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Profit booking cools precious metals rally after record-setting surge
Silver and gold prices edged lower after recent record highs as profit booking and easing geopolitical risks tempered safe-haven demand across precious metals markets.
Precious metals prices eased after a sharp rally, with silver consolidating near the $80 per ounce level following an intraday record high of $83.62. Gold also retreated modestly, slipping 0.4% to $4,512.30 per ounce after touching record levels last week. Platinum remained elevated after hitting an all-time high of $2,478.5 per ounce. The pullback was attributed to profit booking and a softening of safe haven demand, as geopolitical tensions showed signs of easing and risk sentiment improved.