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Gold retreated as a rally to a record prompted some investors to sell and a tumble in energy prices, sparked by Buy nike running shoes onlinereduced economic growth forecasts from the International Monetary Fund, reduced inflationary pressures.

Immediate-delivery bullion fell 0.3 percent to $1,458.57 an ounce at 9:10 a.m. in Singapore after touching an all-time high of $1,478.18 yesterday. Gold for June delivery in New York lost 0.7 percent to $1,457.40, retreating from a record $1,478.

Crude in New York dropped 2.5 percent yesterday from a 30- month high and extended that decline today, losing 1.5 percent to $108.32 per barrel. The IMF said in a global outlook that the U.S. will expand 2.8 percent this year, slower than in 2010, and Japanese growth was cut to 1.4 percent from 1.6 percent.

“The rally of gold prices has a shaky footing as there have still hardly been any inflows into exchange-traded fundscheap nike mens acg sandals  and correction potential is building up,” Eugen Weinberg, head of commodity research at Commerzbank AG, wrote in a note. “A broader correction of commodity prices seems to be needed.”

Gold soared 26 percent in the past year and silver more than doubled as unrest in the Middle East boosted oil, Europe’s governments grappled with a sovereign-debt crisis and Japan was struck by a record earthquake. Assets held in exchange-traded products stood at 2,050 metric tons on April 11 compared with the record 2,114.6 tons on Dec. 20, data from 10 providers show.

Cash silver shed as much as 0.8 percent to $39.9287buy Fivefingers Kso-Vibram fivefingers Kso an ounce after reaching $41.9525 yesterday, the highest level since 1980. Spot palladium declined 0.3 percent to $775.13 an ounce, while platinum weakened 0.4 percent to $1,776.50 an ounce.