Commodities
Gold Prices Correct After Reaching Two-Month Peak
Gold's upward momentum faltered on Thursday as investors opted to book profits after the precious metal reached its highest point in over two months. Spot gold declined by 0.6% to $4,495.69 per ounce at 03:31 GMT, down from a peak of $4,525.79 earlier in the day.
This correction follows a sharp 4% surge on Wednesday that propelled gold to its highest level since June 2nd. Meanwhile, US gold futures showed a modest gain of 0.2%, reaching $4,553.30 per ounce.
Among other metals, silver bucked the trend, rising by 0.2% to $67.07 per ounce. Platinum and palladium, however, experienced losses, falling 1.3% and 0.2%, respectively.