Singapore, October 19 (QNA) - Gold prices advanced on Monday as a retreat in oil prices eased inflation concerns, while investors weighed the outlook for US monetary policy and the prospect of further Federal Reserve interest rate hikes later this year.

Spot gold rose 0.3% to $4,175.60 an ounce, while US gold futures for December delivery gained 0.4% to $4,196.40.

Other precious metals also traded higher, with spot silver climbing 0.9% to $57.54 an ounce, platinum gaining 0.7% to $1,642.29, and palladium advancing 1.5% to $1,129.13. (QNA)