The prices of most precious metals gave up previous gains on Thursday, with gold coming off its recent all-time high and going below the $4,000 mark. The appetite for safe havens likely faded due to the ceasefire deal between Israel and Hamas. In addition, today’s speech by United States Federal Reserve Chair Jerome Powell didn’t give any insights into further potential interest rate cuts in 2025. Meanwhile, Fed Governor Michael Barr called for a “cautious” approach to policy adjustment, underlining that “considerable uncertainty” is still present. Gold slid 2.35% to $3,946.92.01 per ounce at 1:16 pm ET. A minute later, silver lost 0.64% to sell for $48.56 per ounce. At 1:17 pm ET, platinum declined 1.43% to $1,646.05 per ounce. Meanwhile, palladium increased 1.72%, selling at $1,434.49 per ounce at the same time.