Gold and silver prices continued to slide on Thursday after witnessing one of their sharpest drops in years earlier this week. The correction comes after a prolonged rally that had pushed both metals to record highs, prompting investors to book profits amid broader market weakness.

Gold had fallen the most in over a decade on Tuesday, while silver recorded its steepest one-day decline since February 2021. The recent weakness reflects growing caution among investors as they await key U.S. economic data that could determine the next move in interest rates.

GOLD PRICES EDGE LOWER

Gold prices were trading lower in early trade on Thursday. Spot gold slipped 0.3% to $4,082.95 per ounce as of 1:44 a.m. GMT, while U.S. gold futures for December delivery rose 0.8% to $4,097.40 per ounce.

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