Gold falls back after hitting all-time high
Gold futures fell slightly to settle at $1,873 as spot gold jumped to a record high Tuesday after Switzerland pegged its currency to the euro, then the precious metal retreated 2 percent from that level as investors took profits.
The spot price of gold—which tracks global trades in bullion—and U.S. gold futures set all-time highs above $1,920 an ounce after the Swiss National Bank set a minimum exchange-rate target on the soaring franc to stave off a recession. Analysts said they still expect gold to chart new peaks on worsening euro zone troubles.