Commodity traders have taken advantage of the violent correction in the gold price that sent retail investors rushing for the exit, and have been buying the dip in the world’s hottest asset.
While spot gold tumbled another 3 per cent overnight to touch $US4004 an ounce, it recouped some of the losses during the session. That’s after a 6 per cent slump the day before, which was the most brutal one-day sell-off since 2013. On Thursday, gold was trading around $US4090 an ounce.
Source: https://www.afr.com/markets/commodities/traders-pounce-on-gold-as-correction-cleans-out-hot-money-20251023-p5n4o2