Gold retreated on Friday after reaching its strongest position in more than two months the previous session, as investors moved to lock in gains.
Spot gold dropped 0.5 per cent to $4,330.37 per ounce by 01:03 GMT, while December futures on US exchanges fell 0.8 per cent to $4,386.80. Thursday’s rally had lifted the metal to its highest point since 5 June before a 1.3 per cent pullback erased the week’s gains.
Other precious metals followed gold lower. Silver slid 0.8 per cent to $63.92 per ounce, platinum fell 1 per cent to $1,700.60, and palladium eased 0.3 per cent to $1,303.25. Both platinum and palladium touched their lowest levels since 4 August.
