Commodities
Gold Prices Dip After Hitting Two-Month High
Gold prices declined on Thursday after hitting a two-month high of $4,525.79 per ounce earlier in the day.
The precious metal had gained more than 4% on Wednesday and some investors chose to lock in their profits.
According to Reuters, spot gold dropped 0.6% to $4,486.69 per ounce, while US gold futures rose 0.2% to $4,553.30 per ounce.
Ilya Spivak, global macro head at Tastylive, noted that investors could naturally take profits after gold's strong advance and said the metal may maintain its upward momentum if prices stay above the $4,400-$4,500 range.