Gold suffered its biggest one-day drop in nearly four years Wednesday, raising questions about whether a torrid rally driven by anxiety over President Trump’s trade policies can continue.

Gold retreated after topping $3,500 an ounce for the first time as traders booked profit following a nearly 10% rally this month.

Key Takeaways Gold prices fell 4% on Wednesday, a day after hitting a record high, following comments from President Trump that allayed Wall Street's fears about an ongoing trade war with China and the White House's stand-off with the Federal Reserve.