Gold prices fall after record surge
On Thursday, 27 November, gold prices fell after reaching a nearly two-week high, according to Investing.
As of the morning session, the precious metal was trading at $4,194.10 per ounce, equivalent to $135.29 per gram. Investors were taking profits after the previous day’s gains, as the U.S. Federal Reserve had not provided clear signals regarding future interest rate moves.
Gold traditionally performs well in a low-interest-rate environment, and such expectations continue to support demand for the metal.
Other precious metals showed mixed performance: spot silver fell 0.6% to $53.04 per ounce, platinum rose 2.3% to $1,624.75, and palladium slightly declined to $1,419.
On 20 October, gold reached a peak of $4,381.52 per ounce, after which prices began to decline due to expectations of U.S.-China trade negotiations, technical factors, and a stronger U.S. dollar.
According to the Financial Times, China’s gold purchases are likely significantly higher than official figures suggest, helping to support elevated prices.
Gold prices have also been pressured by recent U.S. employment data.
Meanwhile, copper prices are rising due to supply shortages and a weaker dollar.
