Gold falls more than 4% as investors take profits after a record peak

Gold fell by four percent today, with investors reaping profits after rising to unprecedented levels, but prices are heading to record the best monthly performance since the 1980s.
The price of gold in spot transactions fell 4.6 percent to $5,149.99 per ounce, after earlier touching $5,594.82.
US gold futures for February delivery fell 2.8 percent to $5,165.20.
However, spot gold prices are still up 19 percent for the month and 3.6 percent this week.
As for other precious metals, silver lost 6.6 percent in spot transactions to reach $108.84 per ounce, after recording $121.64 earlier. Silver has risen by about 50 percent this year, supported by a continuing shortage in supply and a driving force from purchases.
Platinum fell in spot transactions by 1.7 percent to $2,650.15 per ounce, after hitting an unprecedented level of $2,918.80 on Monday. Palladium fell 6.7 percent to $1,935 per ounce.