Gold Registers Sharpest Single-Session Selloff in 5 Years

Silver prices also erased about 7 percent as investors took some profits.

Bars of gold are piled up during a press conference at the German Federal Bank in Frankfurt am Main, Germany, on Jan.16, 2013. FRANK RUMPENHORST/DPA/AFP via Getty Images

Gold prices suffered their sharpest single-session selloff since 2020, declining more than 5 percent on Oct. 21.

On the COMEX division of the New York Mercantile Exchange, gold futures fell by $231, or 5.3 percent, to a one-week low of $4,128.40 per ounce.