Gold Prices Slip, Silver Falls Nearly 1% While Platinum Moves Up

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NEW YORK: Gold prices edged lower in the global bullion market, with the precious metal trading near $4,150 per ounce.

Spot gold fell 0.3% to $4,150.23 per ounce, while US gold futures declined 0.2% to $4,177.60 per ounce.

Other precious metals also showed a mixed trend in the global market. Spot silver dropped nearly 1% to $61.12 per ounce, while platinum gained 0.2% to reach $1,704.25 per ounce. Palladium, meanwhile, fell 0.3% to $1,168.20 per ounce.

Meanwhile, delegates attending the London Bullion Market Association’s annual conference in Sorrento, Italy, offered an optimistic outlook for gold prices. According to their forecast, the price of gold could rise to $5,013 per ounce over the next 12 months.