PRECIOUS-Profit-booking pulls gold off all-time high

By Rahul Paswan and Anushree Mukherjee

April 17 (Reuters) - Gold prices retreated on Thursday as investors booked profits after bullion hit an all-time high, with traders assessing tariff negotiations between the U.S. and Japan.

Spot gold XAU= was down 0.8% to $3,317.63 an ounce, as of 0717 GMT. Bullion has gained over 2% so far this week. U.S. gold futures GCcv1 shed 0.5% to $3,330.60.

Bullion hit a record high of $3,357.40 earlier in the session and has risen more than 27% so far this year. GOL/

"The retreat is largely driven by short-term profit-taking following the sharp rally over the past week. A temporary stabilization in U.S. bond yields and a modest recovery in the U.S. dollar have also added to the pressure," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. USD/ US/

"Markets are now in a wait-and-see mode ahead of further clarity on tariff policies and central bank commentary, prompting some investors to lock in gains."

U.S. President Donald Trump touted "big progress" in tariff talks with Japan on Wednesday, in one of the first rounds of face-to-face negotiations since his barrage of duties on global imports roiled markets and stoked recession fears. MKTS/GLOB

"The volatility in both the equity and bond markets could also push investors to increase the weighting of gold within their portfolio," Global X analyst Trevor Yates said. MKTS/GLOB

Trump ordered a probe into potential new tariffs on all critical minerals imports on Tuesday, on top of reviews into pharmaceutical and chip imports.

"We maintain our bullish stance on gold, though a pull-back towards $3,050 per ounce looks possible after a recent swift price rally," analysts at ANZ noted.

Spot silver XAG= dipped 1.4% to $32.28 an ounce, platinum XPT= shed 0.7% to $960.92, and palladium XPD= fell 1.9% to $953.