Gold pauses for breath after record run on safe-haven demand
Gold prices eased on Thursday after hitting a record high earlier in the session, but retained a bullish outlook driven by potential rate cuts signalled by the Federal Reserve and continuing geopolitical and economic uncertainties. Spot gold was down 0.3% at $3,038.50 an ounce by 11:38 a.m. ET (1538 GMT) due to profit-taking, after hitting a record high of $3,057.21. "Speculators are trying to take advantage of the market and take some profit off the table ... I think anytime gold sets a high, we see a little bit of resistance," said Alex Ebkarian, chief operating officer at Allegiance Gold.