Gold prices edged lower on Wednesday, taking a breather after surging past the key $4,500-an-ounce mark earlier in the session, while silver and platinum trimmed some gains following their record-breaking rally.

Spot gold was down 0.2% at $4,479.38 per ounce at 01:57 p.m. ET (18:57 GMT), after marking a record high of $4,525.18 earlier in the session.

U.S. gold futures for February delivery settled 0.1% lower at $4,502.8.

The gold market is seeing some chart consolidation and mild profit-taking after record highs, said senior analyst at Kitco Metals Jim Wyckoff.

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