Gold Volatility Jumps to Four-Year High Amid Stock-Market Panic
- Bullion briefly topped $1,700, paring gains on market weakness
- Traders are selling gold to offset losses from other assets
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Gold investors are bracing for increased market anxiety as the worst sell-off in oil since 1991 spurred a massive slump in equities.
Bullion jumped above $1,700 an ounce when markets opened in Asia before pulling back as money managers cashed in gains to cover losses in other assets. A 30-day measure of expectations for price swings for the metal climbed to the highest since December 2015.