Singapore, June 03 (QNA) - Gold prices slipped on Wednesday as renewed hostilities in the Middle East pushed crude oil prices higher, reinforcing concerns that interest rates will remain elevated for longer to curb inflation.

Spot gold dropped 0.2 percent to $4,476.50 per ounce, while US gold futures for August delivery fell 0.3 percent to $4,504.40.

In regards to other precious metals, spot silver fell 0.5 percent to $74.73 per ounce, platinum lost 0.2 percent to $1,932.25, and palladium fell 0.3 percent to $1,365.25. (QNA)