New York, August 13 (QNA) - Gold prices fell by about 1 percent today as traders moved to take profits after the precious metal touched its highest level in more than two months following the release of US inflation data, which sharply reduced expectations of a Federal Reserve interest-rate hike next month.

Spot gold fell 1.2 percent to USD 4,354.58 per ounce, after reaching USD 4,449.39 earlier in the session, its highest level since June 5.

US gold futures also declined 1.1 percent to USD 4,420.40 per ounce.

Among other precious metals, spot silver fell 1.2 percent to USD 64.51 per ounce, platinum declined 2.4 percent to USD 1,715.54, while palladium plunged 3.9 percent to USD 1,316.28. (QNA)