Gold prices slipped from historic peaks in domestic futures trade on Friday as investors locked in gains amid renewed uncertainty surrounding the US government shutdown and the Federal Reserve’s policy direction. The retreat has raised questions on whether bullion could face a short-term correction, even as broader fundamentals remain supportive. Advertisement

As of 02:47 GMT, spot gold traded at $3,851.99 per ounce, slightly off Thursday’s (October 2) record of $3,896.49. Despite the pullback, bullion has already risen 2.4% so far this week. US gold futures for December delivery edged higher by 0.2% to $3,874.40 per ounce.

Global factors

The recent rise in the US dollar slowed gold’s rally but did little to alter the broader uptrend. “The dollar’s climb created a minor speed bump, but

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