Gold Crashes 6% After Record High
Gold prices tumbled 6 percent just a day after reaching a record high, while Goldman Sachs maintains its $4,900 price target.
Gold experienced a sharp downturn, plunging 6 percent in a single day according to Startup Fortune, following closely on the heels of hitting a record high.
Despite the steep sell-off in the precious metal, financial institution Goldman Sachs maintained its long-term price target at $4,900 for the asset.
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Market Impact
The sudden drop marks a notable reversal in momentum for gold after its recent historic highs.
Key facts
- Gold crashed 6 percent in a single day
- The crash occurred a day after gold reached a record high
- Goldman Sachs holds its $4,900 price target for the asset
Source: news.google.com
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