Gold prices inched lower on October 21, as investors booked profits after bullion hit a fresh high in the previous session on hopes of further interest rate cuts from the US Federal Reserve and strong safe-haven demand.

Spot gold was down 0.3% at $4,340.29 per ounce, as of 0248 GMT, having hit an all-time high of $4,381.21 on October 20. US gold futures for December delivery eased 0.1% to $4,356.40 per ounce.

"Profit-taking moves and an abating of safe-haven flows combined to just take the edge off the gold price today... any pullbacks on gold will be viewed as buying opportunities whilst the Fed remains on their current rate-cutting trajectory," said KCM Trade Chief Market Analyst Tim Waterer.

Markets are fully pricing in for a quarter-point Fed rate cut this month, and another one i

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