The gold rates retreated from record levels on Friday, January 30, with both gold and silver coming under pressure as investors booked profits amid a firmer US dollar. In international markets, spot gold prices declined by more than 4% to USD 5,156.64 per ounce before rebounding to USD 5,346.42. Despite the sharp pullback, gold remains up over 20% so far this year. Silver has outperformed, gaining around 53% on a year-to-date basis. ''Today's crash is not a crash, but a correction that we have been expecting for a long time. Gold and silver have been increasing continuously for the last 8-9 months. It was just up-trending. We have seen a correction of 5-7%,"Surat Jewelry Association Committee Member Viren Chokshi told IANS. Why Did Gold Crash Today, Shedding USD 3.4 Trillion in Value After a Record-Breaking Peak?

Gold Rate Crash Today

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