Gold prices (XAU/USD) have taken a hit, sliding over 1 percent from the remarkable all-time high of $2,954 recorded on Thursday. As of Friday, the yellow metal trades at approximately $2,925. This downward movement comes just before the anticipated preliminary Purchase Managers Index (PMI) reading for February in the United States. Additionally, comments from the Trump administration regarding the potential lifting of sanctions on Russia contribute to the evolving market landscape. Investors should keep a close eye on these developments as they could influence gold’s trajectory in the days ahead. Understanding external factors impacting gold can provide valuable insights for market participants.