Gold Rebounds after Pullback from Record Highs

Gold prices experienced a slight uptick on Monday, regaining ground after a significant drop in the previous week. Last week's fall saw prices hit a record over $4,300 per ounce.

As of 0203 GMT, the spot price of gold increased by 0.4% to reach $4,263.59 per ounce. This recovery follows a 1.8% drop on Friday, marking the steepest decline since mid-May.

Despite Friday's sharp decrease, gold has recorded its best weekly performance since April, having previously soared to an all-time high of $4,378.69 per ounce. Meanwhile, December U.S. gold futures have risen 1.5% to $4,275.40 per ounce.

Turning to other precious metals, platinum fell by 1.1% to $1,591.55 per ounce, while palladium decreased by 0.5% to $1,467.16 per ounce.