A woman holding pieces of gold in Hanoi, which topped $5,000 an ounce for the first time on Jan. 25 (Credit: Nhac NGUYEN / AFP)
The price of gold tumbled five percent in early trading Friday, extending losses after soaring to record highs this week thanks to its status as a safe-haven investment.
Gold retreated to $5,107.79 an ounce, having already slumped Thursday after reaching a record high of $5,595.47 the same day.
"Gold prices have slid... as investors look to take some profits," Aarin Chiekrie, equity analyst at Hargreaves Lansdown, noted Friday.
The price of gold tumbled five percent in early trading Friday, extending losses after soaring to record highs this week thanks to its status as a safe-haven investment.
Gold retreated to $5,107.79 an ounce, having already slumped Thursday after reaching a record high of $5,595.47 the same day.
"Gold prices have slid... as investors look to take some profits," Aarin Chiekrie, equity analyst at Hargreaves Lansdown, noted Friday.
Humanitarian convoy reaches Rmeish, Ain Ibl, Dibil despite obstacles
