Following a remarkable surge to multiple record highs earlier this week, gold markets experienced a notable pullback Thursday as traders moved to capitalize on substantial gains.

Gold prices have surged to unprecedented levels, driven by mounting evidence of labor market deterioration and growing expectations for Federal Reserve monetary easing.

Gold futures delivered their most impressive single-day performance since April 21st, surging $83.40 to establish a new all-time record high of $3,602.40 as of 5:33 PM ET.