Gold prices eased on Thursday after a sharp rise in the previous session as investors booked profits ahead of a long weekend, although softer dollar and escalating U.S.-China trade tensions kept bullion above the $3,300 per ounce level, as per a report.
Spot gold slipped 0.5 per cent to $3,326.51 an ounce as of 08:58 am (ET), after touching a record high of $3,357.40 earlier in the session. Bullion has gained nearly 3 per cent this week. U.S. gold futures were down 0.2 per cent at $3,339.90, Reuters reported.
“Gold may have a short-term pullback given its spectacular surge this week and ahead of a rare long weekend in the markets,” said Tai Wong, an independent metals trader