NEW YORK: Gold prices declined again in the global bullion market on Tuesday, reversing some of the gains recorded during the previous trading session. Other precious metals, including silver, platinum and palladium, also registered losses.
Spot gold fell 0.5% to $3,926.52 per ounce in the global market.
Meanwhile, US gold futures for December delivery dropped 0.8% to $3,936.30 per ounce, reflecting further weakness in the precious metals market.
Silver, Platinum and Palladium Also Lose Ground
The downward trend extended to other precious metals, with silver, platinum and palladium all recording declines.
Spot silver prices fell 1.8% to $49.71 per ounce, while platinum declined 0.2% to $1,446.80 per ounce.
Similarly, palladium prices dropped 1.4%, bringing the metal’s price down to $953.64 per ounce.
It is worth noting that gold prices had gained more than 2% on Monday, climbing to $3,954.41 per ounce during the previous trading session.
Gold had fallen to a one-year low last Friday before recovering some ground in Monday’s session. However, the market lost momentum again on Tuesday, with prices moving lower.
