Gold's record rally pauses

Gold prices eased on Thursday after a sharp rise in the previous session as investors booked profits ahead of a long weekend, although softer dollar and escalating US-China trade tensions kept bullion above the $3,300 per ounce level, reports Reuters.

Spot gold slipped 0.5% to $3,326.51 an ounce as of 08:58 a.m. ET (1258 GMT), after touching a record high of $3,357.40 earlier in the session.

"Gold may have a short-term pullback given its spectacular surge this week and ahead of a rare long weekend in the markets," said Tai Wong, an independent metals trader.

Gold prices surged 3.6% on Wednesday.

Elsewhere, spot silver fell 0.9% to $32.46 an ounce.