NEW YORK: Gold prices edged lower in the global bullion market, with the precious metal trading near $4,150 per ounce.
Spot gold fell 0.3% to $4,150.23 per ounce, while US gold futures declined 0.2% to $4,177.60 per ounce.
Other precious metals also showed a mixed trend in the global market. Spot silver dropped nearly 1% to $61.12 per ounce, while platinum gained 0.2% to reach $1,704.25 per ounce. Palladium, meanwhile, fell 0.3% to $1,168.20 per ounce.
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Meanwhile, delegates attending the London Bullion Market Association’s annual conference in Sorrento, Italy, offered an optimistic outlook for gold prices. According to their forecast, the price of gold could rise to $5,013 per ounce over the next 12 months.
