Gold Extends Rout in Volatile Pullback From Record Price Surge

Gold held losses in a choppy session, a day after suffering the worst rout in years amid concerns its rally had run too far, too fast.

Spot gold fell as much as 2.9% Wednesday before paring some of the losses. That followed Tuesday’s plunge, which saw bullion tumble 6.3% at one point as technical indicators showed this year’s record-breaking rally was likely overstretched.