The price of gold tumbled more than five percent Thursday as traders reassessed the market after recent record highs for the precious metal seen as a safe-haven investment.
Silver plunged more than eight percent, while copper and nickel prices also fell.
“The parabolic rally had to come to an end,” as commodity prices had “gone up too far, too quickly”, Kathleen Brooks, research director at XTB trading group, told AFP.
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