Gold prices dropped, on pace for their biggest decline in more than 10 years, a day after notching new record highs. Silver futures, which ended Monday at the second-highest level on record, pulled back even more sharply, and platinum prices also sank.
Most-active gold futures contracts recently traded 5.3% lower at about $4,127 a troy ounce.
The equivalent contracts for silver sank more than 7% to under $47.50 a troy ounce.
Gold hasn’t dropped more than 5% in a single session since June 2013, according to Dow Jones Market Data.
Mining stocks such as Newmont and Royal Gold dropped.
