Gold Prices Drop Following U.S. Interest Rate Cut

Gold prices saw a decline today, Thursday, after reaching a near one-week high. This comes amid a divided stance within the Federal Reserve on the decision to cut interest rates. This uncertainty has left investors unsure about the pace of monetary easing in the coming year, while silver hit another record high.

In spot trading, gold fell by 0.2 percent to 4221.49 dollars per ounce by 0300 GMT. This decline followed a peak earlier in the session, marking the highest level since December 5th.

Meanwhile, U.S. gold futures for February delivery rose by 0.6 percent, reaching 4249.70 dollars per ounce.

As for other precious metals, silver in spot trading rose by 0.8 percent to 62.25 dollars per ounce. Additionally, platinum increased by 0.3 percent, reaching 1660.50 dollars, while palladium fell by 0.2 percent to 1479.70 dollars.