Gold prices edged lower on Monday after scaling record highs in the previous session, as some investors locked in profits and the U.S. dollar firmed slightly, although geopolitical risks and expectations of U.S. interest rate cuts continued to underpin bullion’s broader appeal.
Spot gold was last down 4.2% at $4,343.92 an ounce by 06:45 ET (11:45 GMT) after hitting a record high of $4,549.71/oz on Friday.
U.S. Gold Futures for February delivery also slipped 4.3% to $4,385.15/oz.
Silver reverses sharply after new record highs
Silver prices, meanwhile, are seeing a dramatic pullback as profit-taking hits momentum chasers. At 11:50 ET (16:50 GMT), silver futures traded at $71.59, down 7.3% on the day, after initially surging to a new record high of $82.62/oz.
Spot silver prices fell as much as 8.9% to $72.11. Today’s high sits at $83.99. Silver prices are now about 15% below today’s record high after a sharp intraday reversal.
Silver has benefited from robust industrial demand alongside its safe-haven role, while platinum has been lifted by supply constraints and improving demand prospects in the automotive and industrial sectors.
Spot platinum prices are down as much as 14% after hitting a record peak earlier in the day.
Copper Futures fell 4.3% to $5.59 a pound.
Fed cut bets, geopolitical risks support gold
Gold’s rally has been fuelled in large part by growing conviction that the U.S. Federal Reserve will further reduce interest rates next year.
Markets have increasingly priced in a swifter easing cycle in 2026 as inflation shows signs of cooling, a backdrop that typically favours bullion by reducing the opportunity cost of holding it.
Expectations of looser monetary policy have also weighed on the dollar this year, further supporting gold prices.
The metal has posted an exceptional performance in 2025, rising more than 72% so far this year.
Analysts attribute the surge to a combination of factors, including aggressive central bank buying, strong inflows into gold-backed exchange-traded funds, persistent geopolitical instability, and demand from investors seeking a hedge against currency volatility and macroeconomic risk.
On Monday, however, prices eased from record territory after U.S.-led talks aimed at ending the war in Ukraine failed to produce a clear breakthrough.
Any durable agreement that could reduce global tensions is seen as a potential headwind for bullion, but recent developments have so far fallen short of that threshold.
source https://www.investing.com/news/commodities-news/gold-prices-tick-down-from-record-high-amid-profit-taking-silver-hits-new-peak-4423360
