02:00 PM EDT, 10/21/2025 (MT Newswires) -- (Updates prices.)

Gold fell off a record high early on Tuesday amid profit taking and a rising dollar.

Gold for December delivery was last seen down US$232.70 per ounce to US$4,126.70 per ounce, dropping off from Monday's record close.

Still, the price of the precious metal is up 65% since the start of the year, and 15% over the past month, pushed up by falling interest rates, safe-haven buying amid a slowing global economy, central bank and physical demand, and momentum buying amid rising risk appetites.

"A third failed attempt to break higher above USD 4,380 drove some profit taking in Asia. Monday's swift recovery came despite easing trade tensions and the prospect of a US government reopening, underscoring the persistent appetite for hard assets amid ongoing debasement concerns that continue to fuel strong demand from both ETFs and central banks," Saxo Bank wrote.

A higher dollar is offering some pressure to gold prices, with the ICE dollar index last seen up 0.35 points to 98.94. Treasury yields were mostly steady, with the yield on the two-year note last seen unchanged at 3.446%, while the 10-year note was paying 3.966%, down 1.7 basis points.