Gold was slipping early Wednesday, as investors opted to lock in some profit following a spell of heady gains. The move lower came as the market tried to decide who mattered more for bullion prices out of President Donald Trump and Federal Reserve Chair Jerome Powell.
Futures prices fell 0.4% to $3,803 an ounce in early trading, having hit a record high the previous session.
Trump said Tuesday that Ukraine could win back all the territory it has lost to Russia, and encouraged allies to shoot down Russian aircraft if they entered North Atlantic Treaty Organization airspace. That could ratchet up tensions between the West and Moscow, which would usually be expected to give gold a boost.
