Doha: Gold fell on Thursday, as investors took profits after prices surged to their highest level in more than two months following a surprise US Treasury liquidity-support announcement for long-duration bonds that weakened the dollar and pushed Treasury yields lower.
According to Qatar News Agency, spot gold slipped 0.6% to $4,495.69 per ounce. Earlier, it was at $4,525.79, its highest since June 2, after a more than 4% advance on Wednesday. US gold futures rose 0.2% to $4,553.30.
Among other metals, spot silver gained 0.2% to $67.07 per ounce, platinum dropped 1.3% to $1,802.29, and palladium slid 0.2% to $1,328.06.