Gold and silver sank for a second day Wednesday, bringing a rally in the precious metals to a juddering halt, while stocks were mixed 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 percent and hitting multiple records, with observers suggesting it could soon hit $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 Tuesday, tanking as much a

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