Dubai: Gold prices fell in trading on Thursday to their lowest level in two months, amid concerns over rising inflation due to escalating geopolitical conditions in the Middle East. Spot gold dropped to $4,380.62 per ounce after earlier falling to its lowest level since March 26. U.S. gold futures for June delivery also fell 1.6 percent, recording $4,377.10.
According to Yemen News Agency, other precious metals also experienced declines. Spot silver fell 3 percent to $72.37 per ounce, platinum lost 1.4 percent to $1,890.81, with both hitting their lowest levels in nearly a month, while palladium fell 1.9 percent to $1,364.26.