As investors prepared to decipher the indications of the Chairman of the Federal Reserve, Jerome Powell, gold fell slightly on Wednesday.

The spot price of gold fell 0.1% to $4,205.4 per ounce at 07:12 GMT. American futures contracts on gold for delivery in February also fell by 0.1% at $4,233.30 per ounce

Cash increased by 1.1% to $61.34 per ounce, after reaching an all-time high of $61.61 USD earlier in the session. This new peak extends the breakthrough recorded on Tuesday above the threshold of 60 US dollars per ounce.

Silver is now making up for gold in terms of value, driven by strong industrial demand and supply restricted, while demand for this precious metal has exploded this year.

Elsewhere on the market, the platinum fell by 1.3% to US$1,667.71, while the palladium dropped 1% to 1,492.25