Gold retreats amid profit-making operations from investors and reduced geopolitical tensions
Precious metal prices fell on Monday, as silver fell after exceeding $80 an ounce earlier in the day and saw gold fall from record highs, as investors made profits and demand for a safe haven fell as a result of declining geopolitical tensions.
Spot gold fell 0.4% to $4,512.74 an ounce, after hit a record high of $4,549.71 on Friday.
U.S. gold futures for February delivery fell 0.4% to $4,536.40 an ounce.
The price of silver in spot transactions fell 1.3% to $78.12 an ounce, after recording an all-time high of $83.62 earlier in the session.
US President Donald Trump announced on Sunday that he and Ukrainian President Volodymyr Zelensky are “very close, and perhaps very close” to reaching an agreement to end the war in Ukraine.
Silver has achieved gains of 181% since the beginning of the year, superior to gold, driven by its classification within the list of critical US metals, limited supply and low inventories amid high industrial and investment demand.
Gold also saw a significant rise in 2025, rising by 72% so far, recording several record levels.
A combination of factors contributed to the rise of gold, including expectations of lower US interest rates, geopolitical tensions and strong demand from central banks as investors moved away from US securities and the dollar, and rising holdings in exchange-traded funds.
For other precious metals, platinum fell 0.4% to $2,441.20 after recording an all-time high of $2,478.50 earlier in the session, and palladium fell 0.8% to $1,771.99 an ounce.