Global gold prices fall

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 as six percent at one point, and…

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