Gold Topples Off Record High, Dollar Gets Respite

Gold Topples Off Record High, Dollar Gets Respite
Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, on Aug. 14, 2019. Michael Dalder/Reuters
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LONDON—Gold hit a record high on July 28 before the sheer scale of its gains drew a burst of profit-taking, which in turn helped the dollar up from two-year lows and kept equity markets subdued.

The precious metal had risen by almost $40 at one point to reach $1,980 an ounce only to have a wave of selling suck it back down as far as $1,915.