Global gold, silver prices fall

Collected Photo

Global gold and silver prices fell on Monday as expectations of further US Federal Reserve interest rate hikes and geopolitical tensions weighed on precious metals, Reuters reported.

Spot gold slipped 0.8 per cent to US$4,057.77 per ounce. US gold futures for August delivery fell 0.6 per cent to US$4,072.20 per ounce.

Spot silver dropped 0.9 per cent to US$58.51 per ounce.
Gold is on track for a fourth consecutive monthly decline, down about 10.5 per cent over the period.

In contrast, platinum rose 1 per cent to US$1,630.13 per ounce, while palladium gained 0.8 per cent to US$1,218.92 per ounce.