Gold prices dip slightly after hitting record high
Business
Gold prices were around $5,038.66 per ounce, taking a breather after earlier gains.
Silver was around $81.3066 per ounce, a sharp fall since a recent peak.
Gold's recent surge and profit-taking dip
Gold's been on a wild ride, up from last year (2025) thanks to strong demand from China and worries about the US dollar losing value.
But after such huge gains, some investors decided to cash in their profits—so prices dipped.
Factors behind the gold and silver surge
The recent surge came amid weak US economic data and other factors that made gold and silver look like safe bets.
But comments from some Fed officials about the path for interest rates, along with other market developments, coincided with a firmer dollar and some cooling of the gold rush for now.