Cairo: Gold prices fell today as geopolitical tensions eased and the dollar strengthened, reducing demand for safe-haven assets. Spot gold slipped 0.8% to $4,799.79 per ounce, after hitting a record high of $4,887.82 in the previous session. US gold futures for February delivery also declined 0.6% to $4,806.60 per ounce. As for other precious metals, Spot silver fell 0.9% to $92.38 per ounce, platinum dropped 2.7% to $2,415.60 per ounce, and palladium slipped 1% to $1,821.50, after reaching a one-week high in the previous session.

According to Oman News Agency, the decline in gold prices reflects a shift in investor sentiment as geopolitical tensions show signs of easing, leading to a strengthened dollar. The dollar's rise typically diminishes the appeal of gold as it becomes more expensive for holders of other currencies. In addition to gold, other precious metals experienced declines, with silver, platinum, and palladium all seeing reductions in their per ounce prices. These movements indicate a broader trend of decreased demand for precious metals amid changing global economic conditions.