MUSCAT : In spot trading, gold fell 0.4 per cent to $4,458.10 an ounce, retreating from its recent record high of $4,549.71 reached on December 26. In contrast, US gold futures for February delivery edged up 0.2 per cent to $4,467.60, reflecting mixed market sentiment.
The pullback came as the US dollar strengthened in early Asian trading, with investors positioning themselves ahead of the latest US employment report. Markets are also closely watching a Supreme Court decision related to President Donald Trump and his use of extraordinary powers to impose tariffs, adding to broader uncertainty across global markets.
Other precious metals also came under pressure. Silver slipped 1.5 per cent to $75.71 an ounce, after touching an all-time high of $83.62 on December 29. Platinum saw a sharper decline, falling 2.9 per cent to $2,202.50 an ounce, retreating from its record peak of $2,478.50 reached last Monday. Palladium was down 2.1 per cent at $1,749.25 an ounce.
Spot gold retreated 0.4% to $4,458.10 an ounce, moving away from its record high amid anticipation of the US employment report. The strengthening US dollar and market uncertainty, influenced by a Supreme Court ruling on tariffs, impacted precious metals, with silver and platinum experiencing notable declines.