09:25 AM EDT, 03/17/2025 (MT Newswires) -- Gold prices eased early on Monday even as the dollar dipped, falling from a record high after the metal on Friday closed above US$3,000 for the first time.

Gold for April delivery was last seen down US$7.30 to US$2,993.80 per ounce, off the record US$3,001.10 set in the previous session.

The price of the precious metal is up 37% over the past 12 months, supported by falling interest rates and safe-haven buying amid Middle East turmoil and U.S. President Donald Trump's chaotic trade wars.

"Growth concerns, sticky inflation, combined with global economic and geopolitical tensions, and fiscal debt concerns continue to support prices," Saxo Bank noted.

The dollar was last seen lower, usually supportive for commodities priced in the currency. The ICE dollar index was last seen down 0.17 points to 103.55. Treasury yields were mixed, with the U.S. two-year note last seen paying 4.053%, up 2.3 basis points, while the yield on the 10-year note was down 1.0 points to 4.307%.