By WYATTE GRANTHAM-PHILIPS, AP Business Writer

NEW YORK (AP) — Less than a day after gold soared to another record high, prices for the precious metal plunged — marking the biggest sell-off in years.

Gold futures in New York closed at a record $4,374 per troy ounce on Monday, before falling more than $250 (or 5.74%) Tuesday. That’s the largest, single-day percentage drop seen since September 2011, according to data in FactSet. And despite some brief rebounds, losses continued to pile up Wednesday — with gold futures trading at about $4,036 as of 11 a.m. ET.

Prices are still up since the start of 2025. Gold sales often rise sharply amid wider economic uncertainty, as anxious investors seek a “safe haven” for their money. More have turned to gold amid President Donald Trump’s barrage o

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