Gold continues to decline due to fears of raising US interest rates

Gold prices continued to decline today, Monday, with increasing fears of raising interest rates in the United States following the release of a strong jobs report, rising oil prices and raising concerns about inflation.

The price of gold in spot transactions fell 0.4% to $4,313.11 per ounce.

US gold futures for August delivery fell 0.7% to $4,336.30.

As for other precious metals, the price of silver in spot transactions fell 0.4% to $67.56 per ounce, and platinum fell 0.5% to $1,767.15, while palladium stabilized at $1,225.66.