Gold Prices Decline Amid Profit Taking and Easing Geopolitical Tensions

Gold prices declined on Friday following recent record highs as investors booked profits amid easing geopolitical tensions, particularly in Iran, and stronger U.S. economic data that reduced expectations for near-term Federal Reserve rate cuts. Spot gold fell between 0.2% and 0.5%, with futures also down, though the metal is set for a second consecutive weekly gain of about 2%. Silver and platinum prices also dropped, influenced by similar factors including a firmer U.S. dollar and reduced safe-haven demand.