02:00 PM EDT, 10/17/2025 (MT Newswires) -- (Updates prices.)

Gold fell off a record high midafternoon Friday as traders took profits following five days of record highs on buying momentum for the precious metal.

Gold for December delivery was last seen down US$92.80 to $4,211.80 per ounce.

Still, the price of the precious metal is up 16% over the past month, pushed higher by expectations for lower interest rates and economic turmoil as a shutdown of the U.S. government continues and President Donald Trump's capricious trade policies spook investors as he threatened fresh tariff hikes on China after the country imposed export restrictions on rare-earth metals.

"Fears about credit quality in the US economy and heightened frictions between Washington and Beijing strengthened demand for havens," Saxo Bank said.

The dollar was higher, with the ICE dollar index was last seen up 0.08 points to 98.42. Treasury yields also rose, raising the carrying cost of owning gold. The U.S. two-year note was last seen paying 3.464%, up 3.3 basis points, while the yield on the 10-year note was up 2.8 points to 4.001%.