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

• Gold prices fell on Thursday due to profit-taking after reaching a record high in the previous session.
• US President Donald Trump's softer stance on Iran and the Federal Reserve Chair reduced gold's safe-haven demand.
• Spot gold dropped 0.7% to $4,589.71 per ounce globally, while US gold futures for February delivery fell 0.9% to $4,594.10.
• Despite the current dip, analysts suggest the broader upward trend for gold is not over.
• Other precious metals like silver, platinum, and palladium also saw declines, with silver down 5.5% and platinum down 3.3%.

Why It Matters: Gold prices declined due to profit-taking and reduced geopolitical tensions, though its long-term rise may continue.