Gold and silver shares turned lower alongside precious metals in late Tuesday morning trading amid profit taking in the sector.
The spot price of gold – which hit a new all-time record high of $1,922.20 per ounce earlier this morning – tumbled $32.72 to $1,867.48 per ounce, while silver slid $1.01 to $41.99 per ounce as of 11:43am ET.
Gold and silver shares relinquished their gains as well, with the Philadelphia Gold & Silver Index (XAU) dipping 0.3% to 222.14. The XAU had been higher by as much as 1.9% at 226.94.
Among gold producers, notable decliners included Agnico-Eagle Mines (AEM) and Gold Fields (GFI), which fell 0.4% and 2.7%, respectively.