Gold prices dropped in their biggest decline since 2013, a day after notching new record highs. Silver futures, which ended Monday at the second-highest level on record, pulled back even more sharply, and platinum prices also sank.
The most-active gold futures contract traded 5.7% lower to $4,109.10 a troy ounce. The front-month contract also fell 5.7%, to $4,087.70.
The front-month contract for silver sank 7.2% to $47.45 a troy ounce. The most-active contract fell to $47.704. Most-active platinum lost 8%.
Gold hasn’t dropped more than 5% in a single session since June 2013, according to Dow Jones Market Data.
Mining stocks such as Newmont and Royal Gold also fell.
