Gold prices fell 1% today as investors chose to pocket profits after the metal hit a seven-year high in the previous session, although growing fears over a spike in new coronavirus cases outside of China capped bullion’s losses.

Spot gold was down 0.7% to $1,649.49 per ounce by 01:32 GMT.

U.S. gold futures fell 1.5% to $1,651 an ounce. However, palladium rose 0.6% to $2,642.97 an ounce, while platinum gained 0.3% to $966.53.

Moreover, silver eased about 0.3% to $18.58 per ounce