Gold prices retreated in today’s trading from the record levels they reached on Friday, as markets absorbed geopolitical developments and expectations of U.S. interest rate cuts, alongside declining bond yields, amid profit-taking and notable resilience of the dollar.
The U.S. dollar index, which measures the performance of the American currency against a basket of currencies, reached 98.06 points, compared with 98.2 points at the close of Friday’s session.
Gold futures contracts for delivery next February were traded at $4,472.40 per ounce, down 1.8% from Friday’s level of $4,552.70, after recording an all-time high of $4,584 per ounce.
Despite today’s decline, prices remain 0.10% higher compared to last week, and up 5.2% from their levels in the same period last month. Gold has also risen by 145% over the past three years.
In spot trading, gold fell from its historical high of $4,550.11 per ounce and was traded at $4,452.92 per ounce.
Other precious metals experienced sharp volatility, with silver prices ranging between $73.52 and $82.62 per ounce, and standing today at $74.19, down 3.9% from the previous session. Platinum prices ranged between $2,267.30 and $2,584.20 per ounce.
United News Network – UNN Arabic
An independent media platform providing reliable news and objective analysis, and striving to promote peace and cultural dialogue worldwide, to convey the truth and build bridges of understanding between peoples.
For more news, you can visit our homepage:
https://un-news.org
