Gold Prices Step Back from Record Highs
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Gold prices retreated from record highs on Thursday, with spot gold down 0.6% at $3,321.89 per ounce after reaching $3,357.40 earlier. The decline followed profit-taking after a rally fueled by concerns over U.S. tariff policies. U.S. gold futures fell 0.3% to $3,335.60. The Federal Reserve's Jerome Powell indicated a cautious approach to interest rates, noting that tariffs could impact inflation. Other precious metals also saw declines, with silver down 1.3%, platinum down 1.2%, and palladium down 2.5%.
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