Shan Ahmed Khan

Gold fell on Thursday after hitting a record in the previous session, as eased geopolitical tensions cut demand for bullion as a safe-haven. Spot gold was down 0.8% at $4,796.75 an ounce by 0524 GMT after touching $4,887.82 on Wednesday, while U.S. gold futures for February slipped 0.8% to $4,799.90. “Reversal of comments by the U.S. President was one factor that eased geopolitical tensions,” said ANZ commodity strategist Soni Kumari, with traders awaiting U.S. Personal Consumption Expenditures data — the Federal Reserve’s preferred inflation gauge — and weekly jobless claims; silver slipped to $93.19 and platinum fell nearly 2% after a record a day earlier.