Gold Takes a Breather After Unprecedented Surge

Gold experienced a decline on Thursday as investors decided to cash in profits following its breakthrough past the four-thousand-dollar mark per ounce the previous day. This new record high was achieved amidst expectations of a reduction in U.S. interest rates.

By 0117 GMT, spot gold saw a 0.4 percent drop to reach 4021.99 dollars per ounce after hitting a remarkable 4059.05 dollars on Wednesday. U.S. gold futures for December delivery decreased by 0.7 percent to 4042.60 dollars.

Meanwhile, other precious metals showcased mixed results. Silver saw a slight rise in spot transactions by 0.1 percent, claiming 48.91 dollars per ounce. This increase came after it recorded an all-time high of 49.57 dollars just a day prior.

Conversely, platinum faced a decline. It slipped by 0.7 percent to 1650.60 dollars, while palladium also saw a reduction. It dropped one percent, landing at 1435.25 dollars.