Gold and silver prices fell further on Friday as better-than-expected U.S. economic data reduced bets on an early interest rate cut by the Federal Reserve, while easing geopolitical tensions also weighed on safe-haven demand.
Globally, Spot gold slipped 0.40 percent to $4,601.08 an ounce by 5:27 GMT. Despite the pullback, the metal was still on track for a weekly gain of roughly 2 percent, after hitting a record high of $4,642.72 on Wednesday. Meanwhile, U.S. gold futures for February delivery fell 0.47 percent to $4,601.90.
Silver also declined, falling 2.09 percent to $90.48.
Globally, Spot gold slipped 0.40 percent to $4,601.08 an ounce by 5:27 GMT. Despite the pullback, the metal was still on track for a weekly gain of roughly 2 percent, after hitting a record high of $4,642.72 on Wednesday. Meanwhile, U.S. gold futures for February delivery fell 0.47 percent to $4,601.90.
Silver also declined, falling 2.09 percent to $90.48.
