Gold prices steady near seven-week low amid US rate concerns
Gold prices held steady near a seven-week low on Monday, as concerns persisted over prolonged high US interest rates.
Key Takeaways
AIGold prices were steady in global markets on Monday, remaining close to their lowest level in more than seven weeks as concerns lingered that the US Federal Reserve would keep interest rates elevated.
Reports indicated that US gold futures slipped 0.3% to $1,561.70 per ounce.
Other precious metals decline
Meanwhile, spot silver fell 0.6% to $60.62 per ounce, platinum dropped 1% to $1,699.86, and palladium slipped 0.5% to $1,209.08.