Gold declines 3 percent and other precious metals decline

Capitals, July 14 / WAM / Gold prices fell by three percent on Monday, after US President Donald Trump announced the imposition of a new naval blockade on Iran, which led to a recovery in oil markets.

Gold fell in instant transactions by three percent to $3,996.76 per ounce, its lowest level since the first of July. US gold futures for August delivery fell by 2.6 percent to $4,005.7.

As for other precious metals, silver fell 3.8 percent to $57.55 per ounce, platinum fell 1.7 percent to $1,599.47, and palladium fell 2.1 percent to $1,249.70.

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