Gold plunge deepens as traders unwind ‘crowded’ bets on rally


Gold fell, following its biggest plunge in more than a decade, and silver whipsawed in choppy trading after a dramatic reversal of a record-breaking rally that ran too far, too fast.

Spot gold fell as much as 6.3% on Monday. Silver swung sharply, dropping as low as $75.10 an ounce before climbing as much as 3.2% and retreating once again. The white metal recorded its biggest ever intraday loss in the previous session.

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