WASHINGTON (dpa-AFX) - Gold edged lower on profit taking Thursday after hitting a new record high of $4,059.34 an ounce.
Spot gold slipped 0.1 percent to $4,037.18 an ounce in European trade, while U.S. gold futures were down 0.3 percent at $4,059.10.
The dollar climbed to its strongest level in two months as France faced a political crisis and the U.S. government shutdown entered its ninth day.
French President Emmanuel Macron said he would appoint a new prime minister within the next 48 hours to resolve the ongoing political crisis.
In the U.S., it appears that the government shutdown may last into next week after the Senate failed for the sixth time to pass either Republican- or Democratic-backed funding bills.
Meanwhile, geopolitical tensions eased somewhat after Israel and Hamas agreed to the 'first phase' of U.S. President Donald Trump's peace plan to pause fighting and release at least some hostages and prisoners, making a major breakthrough in the U.S.-brokered negotiations to end their two-year war.
The focus now shifts to upcoming addresses by Federal Reserve officials, including Fed Chair Jerome Powell, who is set to speak at 08:30 ET.
Amid growing anxiety over economic risks, investors are looking for cues on the Fed's easing plans.
The U.S. central bank is widely expected to cut rates by another 25 bps in October, according to CME Fedwatch.
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