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LoginGold Falls 2 Percent
London, June 10 (QNA) - Gold fell more than 2 percent on Wednesday, hitting its lowest level in more than two months, after renewed military confrontation in the Middle East dashed hopes for a near-term settlement to end the war and heightened concerns over inflation and higher interest rates.
Spot gold declined 2.1 percent to $4,172.44 an ounce, touching its lowest level since March 23. US gold futures for August delivery also fell 2.1 percent to $4,195.60 an ounce.
Gold has fallen by more than 20 percent since the outbreak of the war in late February.
Among other precious metals, spot silver fell 2.1 percent to $63.99 an ounce, platinum dropped 3.1 percent to $1,673.97 an ounce, and palladium edged down 0.4 percent to $1,217 an ounce. (QNA)
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