Gold posts biggest 2-day percentage loss since Feb. 2023
Gold futures on Tuesday tallied a two-session decline of about 3%, the largest such loss in over a year. The big question is whether the pullback has been sharp enough to provide a fresh opportunity for investors who missed out on the metal’s climb to record highs.
Weakness in gold is partly due to “diminished risk of an outright war between Israel and Iran, which therefore reduced the haven appeal of gold somewhat,” said Fawad Razaqzada, market analyst at City Index and FOREX.com, in emailed commentary.