Precious metals decline, and silver falls after exceeding $80 per ounce

New York, December 29 / WAM / Prices of precious metals declined today, Monday, as silver fell after exceeding $80 per ounce earlier in the day, and gold witnessed a decline from record high levels.

Gold in instant transactions fell 0.4% to $4,512.74 per ounce by 0242 GMT, after hitting a record high of $4,549.71 last Friday.

US gold futures for February delivery fell 0.4% to $4,536.40 per ounce.

The price of silver in spot transactions fell 1.3% to $78.12 per ounce, after recording its highest level ever at $83.62 earlier in the session.

As for other precious metals, platinum in spot transactions fell 0.4% to $2,441.20 after recording its highest level ever at $2,478.50 earlier in the session, and palladium fell 0.8% to $1,771.99 per ounce.

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