Gold Falls on Profit-Taking, Easing Worries About Iran

Core Viewpoint - Gold prices have decreased as investors took profits after reaching a record high, influenced by reduced fears of U.S. military action against Iran and a softer stance from President Trump regarding the Federal Reserve Chair [1][2] Group 1: Market Reaction - Gold futures in New York fell by 0.6% to $4,608.60 per troy ounce, indicating a profit-taking trend among investors [2] - The easing of geopolitical tensions has contributed to a decline in demand for safe-haven assets like gold [1] Group 2: Economic Indicators - Investors are closely monitoring U.S. weekly jobless claims data for insights into the Federal Reserve's policy direction, as lower interest rates typically benefit non-yielding assets such as gold [2] - President Trump's comments about not planning to fire Federal Reserve Chair Jerome Powell may also influence market sentiment regarding interest rates [1]