GOLD and silver tumbled for a second day on Wednesday, bringing a rally in the precious metals to a juddering halt, while equities also sank after US President Donald Trump remarked that a meeting with Chinese counterpart Xi Jinping might not take place.
Bullion has seen an eye watering run-up since the turn of the year, helping it climb more than 60 per cent and hitting multiple records, with observers suggesting it could soon hit US$5,000 an ounce.
The rally has been built on a range of issues including a weaker dollar, expectations of interest rate cuts, falling bond yields and central bank buying.
Lingering worries about the global outlook have also boosted its haven status, while a fear of missing out on the surge has equally played a part.
But the buying reversed on Tuesday, tanking as much as six per cent at one point, and continued its retreat in Asia, hit by profit-taking, hopes for a further easing of China-US tensions and a…
