Singapore, October 26 (QNA) - Gold prices hovered near a three-month low on Monday as investors looked to the US Federal Reserve's policy meeting this week for clues on the outlook for interest rates.

Spot gold slipped 0.2% to $3,987.45 per ounce, while US gold futures for December delivery fell 0.2% to $4,000.80 per ounce.

Bullion posted a 4% weekly loss on Friday, its steepest decline since June.

Elsewhere in the precious metals market, spot silver edged up 0.2% to $54 per ounce. Platinum fell 0.1% to $1,549.42 per ounce, while palladium gained 0.4% to $1,047.90 per ounce. (QNA)