Sana'a: Gold retreated to its lowest level in two weeks on Tuesday as the conflict between the United States and Iran led to a sharp rise in oil prices and fueled inflation fears. Spot gold fell 0.2 percent to $3,993.83 per ounce by 01:10 GMT, after losing about 3 percent in the previous session, its biggest one-day percentage drop in more than a month. U.S. gold futures for August delivery settled at $4,000.70.
According to Yemen News Agency, other precious metals also experienced declines. Spot silver fell 1.2 percent to $56.98 per ounce, after earlier hitting its lowest level in two weeks. Platinum dropped 1 percent to $1,589.35, and palladium declined 0.4 percent to $1,242.54.