Gold prices tick down from record high

Gold prices edged lower on Monday after scaling record highs in the previous session, as some investors locked in profits and the U.S. dollar firmed slightly, although geopolitical risks and expectations of U.S. interest rate cuts continued to underpin bullion’s broader appeal, News.Az reports, citing CNBC.

Spot gold was last down 0.4% at $4,513.55 an ounce by 00:51 ET (05:51 GMT) after hitting a record high of $4,549.71/oz on Friday.

U.S. Gold Futures for February delivery slipped 0.3% to $4,536.80/oz.

Gold prices jumped 4.5% last week.