NEW YORK: Gold prices eased on Tuesday after hitting a record high earlier in Asian trading, as investors took profits. Spot gold slipped 0.70 per cent to US$3,805.99 per ounce by 0723 GMT, retreating from its peak of US$3,871.45. US gold futures for December delivery also dropped 0.60 per cent to US$3,833.40. Despite the pullback, bullion has surged 10.50 per cent in September, its strongest monthly gain since July 2020.
Gold Retreats
Analysts attributed the dip to technical corrections, while political uncertainty in Washington—where talks to avert a government shutdown remain stalled—helped cushion losses. Markets are also betting heavily on a Federal Reserve rate cut in October. UBS forecasts gold could hit US$4,200 by mid-2026 amid economic uncertainty.
Table of Contents
Read More News on Latest Malaysia
Follow us on:
Read More News on Business News Malaysia
Read More News on SG Business News
Read More News on World Future TV
