The prices of precious metals fell on Monday, influenced by profit-taking and decreased demand for safe havens, after reaching record levels in recent transactions.
Gold prices in spot trading declined by 0.4% to $4,512.74 per ounce, after hitting a record high of $4,549.71 last Friday. Meanwhile, U.S. gold futures for February delivery fell by 0.4% to $4,536.40 per ounce.
In contrast, the spot price of silver dropped by 1.3% to $78.12 per ounce, after it reached an all-time high of $83.62 earlier in the session.
For other precious metals, platinum in spot trading fell by 0.4% to $2,441.20 per ounce, after reaching its all-time high of $2,478.50. Palladium also decreased by 0.8% to $1,771.99 per ounce.
These financial movements reflect a market balance between recent positive expectations and corrective actions following the record increases, as investors continue to monitor demand for metals as safe havens amid global market volatility.
