Gold edged lower on Thursday, as traders weighed the US Federal Reserve's divided vote on a quarter-percentage-point interest rate cut, while silver climbed to yet another record high, reports Reuters.
Spot gold fell 0.3 per cent to $4,217.09 per ounce, as of 1111 GMT. US gold futures for February delivery gained 0.5 per cent to $4,244.70 per ounce.
"It's just an overpositioning (in gold) in expectation of the rate cut, which did happen, and therefore you're seeing some selling pressure," said independent analyst Ross Norman, adding that gold's fundamentals remained intact.
The Fed cut interest rates by a quarter of a percentage point on Wednesday in a rare divided vote, but signalled a pause on further easing as officials look ahead to assess the direction of the job market and inflation that "remains somewhat elevated."
Lower interest rates typically benefit non-yielding assets such as gold.
Projections issued after the two-day meeting showed most policymakers see just one rate cut in 2026. Fed Chair Jerome Powell offered no indication of when another cut might occur.
Spot silver rose 1 per cent to $62.39 per ounce, after hitting a record high of $62.88 earlier in the session, bringing its year-to-date gain to 116 per cent on strong industrial demand, declining inventories and its addition to the US critical minerals list.
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