Gold fights back after steep decline as slowdown fears persist (Reuters)

On Tuesday, gold slumped as much as 6.2%, for its worst one-day fall since April 2013. Silver, which on Tuesday declined 15%, its biggest fall since October 2008, on Wednesday was 4.3% higher at $25.85.

“That decline was a healthy correction, it allows more people to get in, so prices will rally again and by the end of the year we’ll see new all-time highs with gold at probably $2,500 per ounce and silver at $35,” said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.

https://www.reuters.com/article/global-precious/precious-gold-fights-ba…