Gold prices fell Thursday as some investors took advantage of recent price hikes to take profits.
At 0955 GMT the spot price of gold was down 0.1 percent at $ 1232.08 an ounce. On Tuesday, the metal hit its highest level in more than three months at $ 1239.68 amid concern for the metal due to the decline in global stock markets, where gold is a safe store of value in times of political and financial uncertainty.
US gold futures rose 0.3 percent to $ 1234.7 an ounce.
"Gold is taking a breather and is likely to rally to the next possible rise," said Jonathan Butler, analyst at Mitsubishi, "some speculative investors will be in a position to take profit."
Palladium fell 1.1 percent in spot trade to $ 1111.80 an ounce, away from a record high of $ 1150.50 an ounce on Tuesday.
Silver rose 0.6 percent to $ 14.74 an ounce and platinum rose 0.2 percent to $ 828.90.
