Gold Slump Eases as Traders Weigh Unwinding of ‘Crowded’ Bets

Precious metals clawed back some losses after another heavy selloff in Asian trading hours, as traders took stock of the abrupt unwinding of a record-breaking rally.

Spot gold fell by about 5%, after tumbling 10% earlier, extending its biggest slump in more than a decade on Friday. Silver dipped by nearly 6%, after sliding 16% earlier and posting a record intraday drop on Friday.