Gold prices fell on Thursday, as investors took profits after the precious metal hit a two-week high in the previous session.

Spot gold was down 0.2% at $1,962.55 per ounce by 0130 GMT, after hitting $1,979.50 on Wednesday, its highest since May 9.

U.S. gold futures fell 0.3% to $1,964.70.

“Gold is consolidating after its recent gains,” said Jeffrey Halley, senior market analyst at OANDA. “The market is waiting for some clarity on the U.S.-China trade talks and the direction of U.S. interest rates.”

Gold is often seen as a safe haven asset during times of uncertainty, and it has benefited from the recent trade tensions between the United States and China.

However, gold is also sensitive to interest rates, and higher rates can make the precious metal less attractive to investors.

The U.S. Federal Reserve is expected to raise interest rates twice more this year, and that could weigh on gold prices in the coming months.