After gold’s punishing drop to a five-year low, bears are finally giving the metal a break.
Signs of the quieting market were evident as a measure of swings for futures slumped on Friday to the lowest in three weeks. Investors are taking a breather after coming down hard on bullion for the past month in anticipation of higher U.S. interest rates, which cut the appeal of the metal as a store of value. Prices posted a fifth straight weekly retreat, the longest slide since July.
