Taking profits Gold loses 1% of its value

Gold fell by more than 1% today amid profit taking after unprecedented levels.
Gold fell in instant transactions by one percent to $4,567.89 per ounce, but it is on its way to weekly gains for the second time in a row after recording its highest level ever at $4,642.72 on Wednesday.
US gold futures for February delivery fell 1.1 percent to $4,570.90.
Demand for gold in India remained weak this week with prices reaching new record levels, and gold was trading at a higher price in China as demand stabilized ahead of the Lunar New Year.
As for other precious metals, silver fell in spot transactions by 4.5 percent to $88.14 per ounce, but it is heading for weekly gains of more than 10 percent after recording its highest level ever at $93.57 in the last session.
Platinum fell in spot transactions by 4.7 percent to $2,296.75 an ounce, but it is heading towards achieving weekly gains. Palladium fell 3.1 percent to $1,744.95 an ounce.