Gold prices saw a slight decline today, Monday, amid diminishing expectations for a near-term interest rate cut in the United States, influenced by rising energy prices. Meanwhile, a weaker U.S. dollar helped mitigate the extent of the losses.
The price of gold in spot trading dropped by 0.2 percent to $5,007.58 per ounce, while U.S. gold futures for April delivery fell by 1 percent to $5,011.10.
The dollar recorded a modest decline, making dollar-denominated commodities, such as gold, less expensive for holders of other currencies. Additionally, yields on ten-year U.S. Treasury bonds fell, enhancing the appeal of gold as a non-yielding asset.
In terms of other precious metals, silver prices in spot trading decreased by 1.2 percent to $79.57 per ounce. Conversely, platinum prices rose by 0.8 percent to $2,042.98, and palladium climbed by 1 percent to $1,566.91.
