Gold prices retreated from their record highs on Wednesday, following a recent surge fueled by optimism over potential interest rate cuts in the United States. Investors are bracing for the release of the minutes from the latest Federal Reserve meeting to gain insight into the likelihood and extent of any rate reductions.
Spot gold stabilized at $2,514.03 per ounce after reaching an all-time high of $2,531.60 on Tuesday. In contrast, U.S. gold futures increased by 0.1% to $2,551.80.
Among other precious metals, spot silver rose by 0.4%, reaching $29.53 per ounce, while platinum saw a gain of 0.5%, climbing to $951.10. Palladium, however, experienced a slight decline of 0.3%, settling at $923.30.
