Gold down 1.2%
Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.
“The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.
Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.
Source – Reuters
