Gold prices in the international market retreated on Monday after the US Federal Reserve signaled the possibility of another interest rate hike, dampening investor sentiment toward the precious metal.
Spot gold fell 0.4 percent to $4,000.55 an ounce, extending last week’s downward trend when the metal shed 2.5 percent and touched a two‑week low on Friday. US gold futures also declined, slipping 0.3 percent to $4,005.9 an ounce.
Analysts note that expectations of tighter monetary policy typically weigh on non‑yielding assets like gold, as higher interest rates boost the appeal of bonds and the US dollar.
Among other precious metals, silver rose 0.9 percent to $56.42 an ounce, platinum edged up 0.1 percent to $1,592.97, while palladium gained 0.3 percent to $1,251.74 an ounce, reflecting mixed sentiment across the broader precious metals market.
