Gold’s rapid slump from a record is raising the question of whether the go-to haven has peaked or is just stumbling before making new highs.
Boosted by global stimulus measures to support a battered economy, negative real rates and a weaker dollar, the metal had surged more than 30% this year, surpassing the previous all-time high set in 2011. The rally -- one of the best among commodities -- prompted banks including Goldman Sachs Group Inc. and Bank of America Corp. to forecast that prices would keep climbing.
