Gold prices pulled back from a record high on Thursday as investors booked profits following a rally driven by concerns around U.S. President Donald Trump’s latest wave of tariff policies.
Spot gold was down 0.6% at $3,321.89 U.S. an ounce after touching a record $3,357.40 earlier in the session. Bullion has gained 2.7% so far this week.
U.S. gold futures fell 0.3% to $3,335.60.
Gold rose 3.6% on Wednesday, driven by Trump’s order to open a probe into potential tariffs on all critical mineral imports, in addition to reviews into pharmaceutical and chip imports.