Gold retreats from two-month peak after profit-taking
Gold prices fell after reaching a two-month high as investors booked profits. The move followed a surprise Treasury liquidity-support announcement and a U.S. debt milestone.
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Gold fell 0.7% to $4,487.63 per ounce during Thursday morning trading as investors booked profits. The pullback followed a more than 4% advance earlier in the week that pushed prices to a two-month peak. The prior surge was driven by a liquidity-support announcement from the United States Treasury.
