Islamabad: Gold prices fell Monday, pressured by a stronger dollar and fading hopes for a Federal Reserve interest rate cut, as well as rising oil prices amid concerns about a prolonged Iran war and stronger-than-expected US jobs data. Spot gold fell 0.9 percent to $4,631.69 an ounce, while US gold futures for April delivery dropped 0.5 percent to $4,657.50 in thin trading as many markets in Asia and Europe were closed for holidays.
According to Qatar News Agency, the decline in gold prices was accompanied by a similar trend in other precious metals. Spot silver fell 1.4 percent to $71.98 an ounce, spot platinum declined 0.9 percent to $1,970.38, while palladium held steady at $1,503.52. The fluctuations in the precious metals market reflect broader economic concerns, including geopolitical tensions and economic data from the United States that have tempered expectations of immediate monetary policy changes by the Federal Reserve.