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Gold price tumbles five percent after record-run higher

Gold tops $4,000 for first time as traders pile into safe haven
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The price of gold tumbled more than five percent in trading Tuesday on profit taking after recent record highs for the precious metal seen as a safe haven investment.

Gold slid 5.2 percent to $4,130.40 an ounce, the biggest drop since the start of the Covid pandemic.

It had reached a record high at $4,381.52 on Monday.

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AFP

Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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