Gold held above $1 900/oz following wild swings as investors weighed the outlook for the metal’s record-setting rally, tracking moves in bond yields, a weaker dollar, as well as an uptick in risk appetite.
Spot bullion steadied, while futures dropped after US stocks briefly surpassed their all-time closing high, curbing demand for haven assets. Gold had tumbled on Tuesday, then swung in a wide arc on Wednesday, as last-week’s rally likely spurred some technical selling and profit-taking.