Home / Business and Economy / Gold Dips After Hitting Record Highs
Gold Dips After Hitting Record Highs
22 Jan
Summary
- Gold prices decreased by 1% following a record high.
- Geopolitical tensions cooling impacted US dollar strength.
- Silver prices also declined from their peak levels.
Gold prices fell by as much as 1% on Thursday, retracting from a record high achieved just prior. The retreat was attributed to signs of cooling geopolitical tensions, specifically related to Greenland. This shift in international relations bolstered the US dollar, exerting downward pressure on bullion prices. Gold was down 0.8% to $4,793.96 per ounce. Concurrently, silver prices also declined by 1.3% to $91.86 per ounce. These movements occurred after a period of sustained gains for gold, which had previously surpassed $4,888 an ounce. The market remains attentive to unfolding international developments.
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