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Gold Falls Below $4,600 an Ounce as Market Cap Drops by Over $1 Trillion

The brief market update says gold moved below $4,600 per ounce while more than $1 trillion was erased from its total market value in a single day.

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Terms & Concepts
  • Market capitalization: The total value of an asset, calculated by multiplying its price by the amount in circulation or outstanding.
  • Ounce: A standard unit of weight used in precious metals markets to quote prices for assets such as gold.