Gold prices declined in global markets on Friday as expectations of a potential increase in US interest rates gained momentum, amid rising oil prices and persistent inflationary pressures in the United States.
Spot gold fell 0.5% to $4,000.54 per ounce, while US gold futures for December delivery dropped by the same margin to $4,010.10 per ounce.
Other precious metals followed the downward trend, with silver losing 1.6% to trade at $51.53 per ounce. Platinum declined 1.9% to $1,459.75, while palladium fell 1.4% to reach $992.37 per ounce.
