Gold Drops From Its Highest Level in a Week

Today, Tuesday, gold prices have edged lower, pulling back from their highest level in a week reached during the previous session when they surged nearly three percent, approaching record levels. Other precious metals also trimmed their gains as the dollar remained steady near its highest level in two weeks.

Spot gold fell 0.3 percent to $4,434.50 per ounce by 01:31 GMT. Gold had hit an all-time high of $4,549.71 on December 26, ending the year up 64 percent, marking its best annual performance since 1979.

U.S. gold futures for February delivery dipped 0.1 percent to $4,445. Other precious metals experienced similar trends, with silver falling in spot trading.

Silver prices decreased 0.3 percent to $76.29 per ounce, after setting an all-time high of $83.62 on December 29. Platinum also saw a dip in spot trading.

Platinum prices retreated 0.1 percent to $2,269.14 per ounce. This followed a rise to an all-time high of $2,478.50 on the previous Monday. Platinum had earlier surged more than five percent during the session, reaching its highest level in a week.

Palladium experienced a sharper drop, falling 1.6 percent to $1,680.25 per ounce. Overall, precious metals have been volatile amid fluctuating market conditions.