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Singapore, March 16 (QNA) – Gold prices edged lower Monday, weighed down by receding hopes for a near-term US interest rate cut due to rising energy prices, while a weaker dollar helped limit the losses.
Spot gold fell 0.2 percent to $5,007.58 per ounce.
US gold futures for April delivery dropped 1 percent to $5,011.10.
The dollar eased slightly, making dollar-denominated commodities like gold less expensive for holders of other currencies.
Conversely, oil prices remained above $100 per barrel as the US-Israeli war on Iran entered its third week.
In other precious metals, spot silver declined 1.2 percent to $79.57 per ounce, platinum rose 0.8 percent to $2,042.98, and palladium climbed 1 percent to $1,566.91. (QNA)
