Gold Prices Dip as Profit-Taking and Softer Geopolitical Tensions Reduce Safe-Haven Demand

• Spot gold fell 0.7% to $4,589.71 per ounce, after reaching a record high of $4,642.72 in the previous session.
• U.S. gold futures for February delivery also declined by 0.9% to $4,594.10.
• The dip is attributed to investors booking profits and a perceived softer stance from U.S. President Donald Trump regarding Iran and the Federal Reserve chair.
• Trump's comments on not intervening in Iran and his wait-and-see approach to the crisis eased safe-haven demand.
• Other precious metals also saw declines: spot silver slid 5.5%, platinum receded 3.3%, and palladium lost 2.6%.

Why It Matters: Gold prices fell due to profit-taking and reduced geopolitical tensions, impacting safe-haven appeal.