Gold Retreats After Historic Rout, Market Volatility Persists

• Gold fell after two days of gains as investors took profits in a choppy market.
• Bullion dropped as much as 1.4% in early trading, briefly dipping below $5,000 an ounce.
• The metal has declined about 10% since its Jan. 29 peak but remains higher this year.
• Long-term demand drivers like geopolitical risks and central-bank buying still support gold.
• Economic data this week, including the jobs report and inflation data, will offer clues on Federal Reserve policy.