Muscat: Gold prices fell today, 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 US-Israel-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 Oman News Agency, other precious metals also experienced declines. 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 precious metal prices reflect a market response to economic indicators and geopolitical tensions impacting investor sentiment.
Menu