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Singapore, May 27 (QNA) – Gold prices fell to a two-month low on Wednesday amid expectations of tighter monetary policy and continued tensions in the Middle East.
Spot gold dropped 1.3 percent to USD 4,447.71 per ounce, while US gold futures fell 1.2 percent to USD 4,448.40.
Markets remain pressured by rising inflation fears linked to the US-Israeli war with Iran and disruptions in the Strait of Hormuz, which pushed oil prices higher.
Investors are also awaiting US inflation data for further clues on the Federal Reserve’s next policy steps. Silver prices fell 3.2 percent to USD 74.46 per ounce, while platinum declined 2.1 percent to USD 1,916.90. Palladium, however, edged up 0.1 percent to USD 1,386.47 per ounce. (QNA)
