Gold and silver wavered, after suffering their steepest selloffs in years on Tuesday as concern their dizzying rallies in recent weeks had left them overvalued.
Spot gold traded near $4,140 an ounce after tumbling as much as 6.3% in the previous session, the biggest intraday drop in more than a dozen years. Silver edged higher after being down 8.7% at one point on Tuesday. The slumps came after technical indicators showed scorching rallies for both metals were likely overstretched.