Khadija Saeed

Gold dipped on Thursday as investors cashed in profits following a record peak, stretching the recent bout of volatile swings at month-end; the metal remains roughly 24% higher for January. Spot gold slipped 1.3% to $5,330.20 an ounce by 1:30 p.m. ET, after hitting a high of $5,594.82 earlier and dropping to $5,109.62. U.S. gold futures closed down 0.3% at $5,318.40. Silver fell 2.1% to $114.141, while platinum and palladium slid 3.2% and 3.7%, respectively. “We are seeing a dramatic sell-off after precious metals made new recent all-time highs,” said David Meger, director of metals trading at High Ridge Futures.