Gold is dropping sharply ... find out its price today
Gold prices fell sharply today, with the dollar holding on to its recent gains, while expectations about a US stimulus deal boosted risk appetite and pushed investors to sell the precious metal to reap profits after it rose to a record high.
By 13:11 GMT, gold fell in spot transactions 4.2 percent to 1941.71 dollars an ounce, retreating from the record level it hit last week at 2072.50 dollars an ounce.
And US gold futures fell 3.5 percent to 1969.20 dollars an ounce.
The dollar maintained its recent gains, making gold less attractive to investors than holders of other currencies.
As for the other precious metals, silver fell 7.8 percent to $ 26.88 an ounce.
Platinum fell 4.8 percent to $ 939.19 an ounce.
Palladium fell 5.4 percent to $ 2099.42 an ounce.