Gold prices fell by 1%, dropping in spot transactions by 0.8% to $1,992.97 per ounce. U.S. gold futures decreased by 0.9% to $2,007.80. Harish V, head of commodity research at Geojit Financial Services, confirmed that the prices are declining due to "profit-taking on the backdrop of anticipated interest rate hikes by the Federal Reserve and the subsequent report on Friday, which showed strong job growth in the United States along with a stable dollar."
As for other precious metals, silver declined in spot transactions by 1% to $24.75 per ounce, while platinum fell by 0.7% to $1,000.78 and palladium dropped by 0.1% to $1,464.79.
