Gold tumbled 4 percent on Wednesday, taking it near a three-year low as a rallying U.S. equity markets further cut into demand for bullion as a hedge against economic uncertainty.
Silver dropped 5 percent and platinum group metals also declined sharply. Bullion tumbled again even after the U.S. government slashed its estimate for first-quarter economic growth, which made investors less worried that the Federal Reserve would move soon to end its U.S. economic stimulus.
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