Gold futures opened at a record $4,635.70 per troy ounce on Thursday, matching Wednesday's closing price. The price declined slightly in early trading.
Geopolitical tensions and concerns about the Federal Reserve's ability to make policy decisions without political manipulation have kept gold near record highs this week. The softening of gold's price on Thursday followed an announcement from President Trump that Iran has stopped killing political protestors. Earlier in the week, President Trump encouraged the protests and implied that U.S. help was imminent. Some sources reported the U.S. removed personnel from key bases in that region as a security precaution, a sign of possible U.S. military action.
At home, the investigation into Fed Chair Jerome Powell is ongoing. President Trump said he doesn't plan to fire Powell, which may quiet some concerns about the president's attempts to force lower interest rates.
Lower interest rates benefit gold by reducing income available from competing assets like cash.
The opening price of gold futures on Thursday was flat with Wednesday's close. One week ago, the price was up 3.9%. One month ago, it was up 7.6%. One year ago, it was up 72.3%. Gold's one-year gain on Dec. 29 was 74.5%.