Dubai: Gold edged lower on Monday, weighed down by waning hopes of near-term US interest rate cuts due to elevated energy prices, while a softer dollar helped limit losses. Spot gold was down 0.2 percent at $5,007.58 per ounce, as of 02:40 GMT. US gold futures for April delivery fell 1 percent to $5,011.10.
According to Emirates News Agency, spot silver fell 1.2 percent to $79.57 per ounce, while spot platinum gained 0.8 percent to reach $2,042.98. Palladium also saw an increase, rising 1 percent to $1,566.91.
The fluctuations in precious metal prices come amid changing expectations regarding US monetary policy, influenced by recent energy price trends.