SINGAPORE: Gold prices fell after hitting record highs yesterday, as a stronger dollar prompted some investors to book profits, but strong market sentiment and geopolitical tensions kept prices above the key $2,600 per ounce level.
Spot gold fell 0.2 per cent to $2,616.57 per ounce after hitting an all-time high of $2,631.31 earlier in the session.
The dollar index, which measures the greenback against six major currencies, rose about 0.3 per cent.
Non-yielding gold has risen more than 27 per cent since the beginning of the year and is on track for its biggest annual rise in 14 years.
As for other precious metals, silver in spot transactions fell 2 per cent to $30.48 per ounce, platinum fell 2.1 per cent to $954.84, and palladium fell 1.9 per cent to $1,047.27. — ONA
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