Gold Rally Pauses After Dovish Fed Comments

Gold prices have rallied more than 15% since the beginning of the year, making it the second-best performing commodity after lumber this year. But the Federal Reserve’s dovish actions and profit-taking have put the rally on hold over the past month as investors shifted back into equities and bonds. The whipsaw price action has caused some investors to reevaluate their gold holdings, particularly in leveraged exchange-traded funds (ETFs).