Gold Hits Fresh High as Israel Prepares for Strike by Iran or Proxies

Gold declined after surging to a fresh record as investors booked profit in a price rally that’s seen as overextended.

Bullion broke the $2,400-an-ounce mark for the first time early Friday, climbing as much as 2.5% to $2,431.52 before erasing gains to fall as much as 1.4%. The quick intraday turnaround isn’t uncommon for the precious metal as its daily movement has largely been dictated by economic data and interest-rate expectations for the past few months.

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