New York, September 18 (QNA) – Gold prices fell nearly 1% on Wednesday, retreating from a record high touched earlier in the session.

Spot gold declined 0.9% to $3,658.25 per ounce, after hitting an all-time high of $3,707.40. Despite the pullback, prices remain up almost 6% so far this month.

US gold futures for December delivery settled 0.2% lower at $3,717.80.

Meanwhile, Deutsche Bank raised its gold price forecast for 2026 to an average of $4,000 per ounce, compared with its earlier projection of $3,700.

Among other precious metals, spot silver fell 2.4% to $41.51 per ounce, platinum declined 2.2% to $1,360.00, and palladium dropped 2.6% to $1,145.44. (QNA)