Gold retreated on Thursday as investors sold off to take profits, following a day when the yellow metal broke above the 4,000-dollar-per-ounce barrier and hit a new all-time high, driven by economic and geopolitical uncertainty and expectations of U.S. interest rate cuts.
Spot gold fell 0.4 percent to 4,021.99 dollars per ounce after reaching a record high of 4,059.05 dollars on Wednesday. U.S. gold futures for December delivery dropped 0.7 percent to 4,042.60 dollars.
Among other precious metals, silver rose 0.1 percent in spot trading to 48.91 dollars per ounce after hitting an all-time high of 49.57 dollars on Wednesday. Platinum fell 0.7 percent to 1,650.60 dollars, while palladium declined 1 percent to 1,435.25 dollars.
