Gold prices rise as inflation fears ease

Gold prices rose in spot transactions this morning, with the decline in oil prices calming inflation fears, while investors await a series of US economic data this week to assess the expectations of Federal Reserve policy.

Gold prices rose in spot transactions by 0.4 percent to $5,213.99 per ounce.

Spot silver prices also rose by 0.6 percent, reaching $88.89 per ounce.

The price of platinum also rose 1 percent, reaching $2,221.48, and the price of palladium increased 1.5 percent, reaching $1,679.73.