Gold prices decline 5% after record levels

Washington, October 21 / WAM / Gold prices fell 5% today, with the dollar rising and investors reaping profits.

Gold prices recorded a new record high yesterday at $4,381.21, supported by strong demand for safe havens and expectations that the Federal Reserve (the US central bank) will reduce interest rates.

Gold fell in spot transactions by five percent, reaching $4,136.72 per ounce.

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