New york: Gold prices fell slightly on Monday, affected by fading hopes of U.S. interest rate cuts in the near term due to rising energy prices, while the weakness of the dollar helped limit the losses.
According to Yemen News Agency, gold fell in spot transactions by 0.2 percent to $5007.58 per ounce, and U.S. gold futures for delivery next April declined by one percent to $5011.10. This decline comes amidst a backdrop of economic uncertainty and fluctuating market expectations about future interest rate decisions by the Federal Reserve.
As for other precious metals, silver in spot transactions fell by 1.2 percent to $79.57 per ounce. In contrast, platinum saw an increase, rising by 0.8 percent to $2042.98, and palladium also experienced growth, increasing by one percent to $1566.91. These movements in the precious metals market reflect broader trends influenced by global economic factors and investor sentiment.