New York, October 30 (QNA) - Gold prices fell more than 1% as rising US inflation strengthened expectations of further monetary tightening by the Federal Reserve, reducing the appeal of non-yielding bullion.

Spot gold dropped 1.4% to $4,008.76 per ounce.

US gold futures for December delivery likewise declined 0.5% to $4,031.40 per ounce.

Among other precious metals, spot silver dropped 3.5% to $52.08 per ounce, platinum declined 3.7% to $1,481.75 per ounce, and palladium fell 0.9% to $1,001.92 per ounce. (QNA)