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Gold Prices Decline After Hitting Record HighsSingapore, 9 Oct (ONA) – Gold eased today as investors booked profits a day after bullion breached the crucial $4,000-per-ounce level to hit a record high on economic and geopolitical uncertainties and hopes of additional US interest rate cuts. Spot gold fell 0.4% to $4,021.99 per ounce, after hitting a record high of $4,059.05 on Wednesday. US gold futures for December delivery fell 0.7% to $4,042.60. Gold has climbed 54% year-to-date on strong central bank buying, increased demand for gold-backed Exchange-Traded Fund (ETFs), and growing interest from retail investors seeking a hedge amid rising trade and geopolitical tensions. Elsewhere, spot silver added 0.1% to $48.91 per ounce, after hitting an all-time high of $49.57 on Wednesday. Platinum slipped 0.7% to $1,650.60 and palladium dropped 1% to $1,435.25. —Ends/AG
