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Profit-Taking Halts Gold’s Surge, But Trade Tensions Keep Prices Elevated

Profit-Taking Halts Gold’s Surge, But Trade Tensions Keep Prices Elevated

Gold prices dipped 0.5% to $3,326.51 on Thursday after hitting a record high of $3,357.40 earlier in the day as investors took profits ahead of a long weekend.

Despite this pause, gold has gained nearly 3% this week, supported by a weakening dollar and escalating US-China trade tensions.

Gold’s rally was particularly strong on Wednesday, surging 3.6% following President Trump’s order to investigate potential tariffs on critical mineral imports.

Analysts remain bullish on gold’s long-term prospects despite expectations of short-term corrections.

Eight more from the desk

Other dispatches from the bullion wire.