Gold prices saw their biggest daily drop in over ten years after a stunning rally in precious metals came to a halt. Futures for gold dropped 5.5% to around $4,141 per troy ounce, the largest one-day drop in 12 years. Silver futures also tumbled more than 7%. The drop was attributed to easing trade tensions between the US and China, a rise in the US dollar, and technical indicators showing overbought conditions. Despite the drop, analysts remain bullish on gold, with Bank of America forecasting a peak of $6,000 per ounce by mid-2026. JPMorgan analysts even suggesting gold could hit $6,000 per ounce by 2029.

Read more at Yahoo Finance: Gold, silver tumble in biggest daily drop in years as stunning precious metals rally comes to a halt