Gold pulls back from all-time high

Gold futures and spot prices steadies after reaching all-time highs

Gold prices retreated on Thursday, weighed down by comments from the Dallas Federal Reserve President cautioning against rushing further US interest rate cuts.

Gold futures (December delivery) fell 0.75% or $29.40 to $3,868.10 per ounce, after the most-active contract ended Wednesday’s session at an unprecedented record high.

The drop came after remarks from Dallas Fed President Lorie Logan, who said the Fed’s September rate cut was appropriate as "insurance" against a sharp labor market deterioration.

However, she urged policymakers to act cautiously when considering additional cuts, stressing that inflation risks outweigh concerns over labor market weakness.

Gold investor sentiment was dented by her remarks, though expectations for another Fed rate cut at the October meeting remain around 98%, according to CME FedWatch.