Market sentiment shifted rapidly due to signs of potential progress in US-China trade talks, which lessened the need for safe-haven assets (Image source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Global gold prices experienced their steepest selloff in more than a dozen years on Tuesday, tumbling by as much as 6.3% after hitting a record peak of $4,381.52 an ounce the day prior.

The sudden rout brought an abrupt halt to a furious, weeks-long rally that has still left the precious metal up more than 50% this year.

While global factors drove the steepest rout, the simultaneous price dip in India was primarily attributed to the simple end of the seasonal buying spree following the festive period. Domestically, the price slump was immediate, with gold price f

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