After a huge sell-off, here's 5 reasons why gold might be down, but not out

REUTERS/Michael Dalder

• Spot gold prices fell below $2,000 in its biggest one-day decline in seven years, dropping off a multi-week rally on Wednesday.
• In the last few weeks, the precious metal hit its most expensive level ever, but analysts warn that a Joe Biden presidency and the untimely distribution of a COVID-19 vaccine could derail its surge.
• Gold has come from being owned by central banks and very wealthy people wishing to preserve capital to increasingly becoming the focus of retail investors, said Ole Hansen, head of commodity strategy at Saxo Bank. 
• Markets Insider compiled 5 reasons why the outlook for gold is still bright. 
• Visit Business Insider's homepage for more stories.

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Gold has retreated this week below the $2,000-an-ounce-mark, notching up its biggest one-day fall in over seven years on Tuesday, as investors cashed in on a rally that has driven the price to unprecedented levels.

In the last few weeks, gold vaulted to record highs above $2,000, driven by hopes that US lawmakers would approve another trillion-dollar stimulus bill aimed at cushioning the economic impact of coronavirus.

See the rest of the story at Business Insider

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