Gold prices fell by the most in 12 years after a weeks-long rally sent the metal to successive record highs.
Numerous factors, including positive trade talks between the US and China and a strengthening dollar, led to bullion dropping more than 6%. However, gold prices remain around double their recent average, underscoring investors’ dimming confidence in stocks that some analysts warn are approaching a bubble.
Appetite in artificial intelligence stocks has driven a market frenzy that has sent indices to record highs, with a recent Bank of America survey showing a record 91% of analysts saying US shares were overvalued.
