Gold slips as profit-taking, softer geopolitical tone hit safe-haven demand

Gold slipped on Thursday as investors booked profits after three consecutive sessions of record highs, while an apparent softer tone from US President Donald Trump on the Federal Reserve chair and Iran dampened safe-haven demand for bullion. Spot gold was down 0.8% at $4,584.03 per ounce, as of 0322 GMT. In the previous session, bullion hit a record high of $4,642.72. US gold futures for February delivery fell 1% to $4,587.70. “Today, we’re seeing that gold is down a bit after (Trump) said maybe we’re not going to intervene in Iran, staving off safe-haven demand (in the short run), but the larger story (of the metal’s rise) is not going away,” said Ilya Spivak, head of global macro at Tastylive.