Overview
- Spot gold fell 1.9% to $4,047.30 per ounce at 11:05 GMT and is down about 4.8% for the week, ending a nine-week winning streak.
- Prices hit a record $4,181.21 on Monday after breaking above $4,000 for the first time this month before reversing lower.
- Analysts cited profit-taking and signs of easing U.S.–China trade tensions as factors reducing safe-haven demand.
- Traders continue to price an almost certain 25-basis-point Federal Reserve rate cut next week, with U.S. CPI due at 12:30 GMT.
- The dollar index is up 0.6% for the week, while silver fell 2.2%, platinum dropped 2.6%, and palladium slid 4.1%.