Gold and silver prices declined

Gold prices fell today, after rising by more than 2% in the previous session, as the rise in oil prices raised inflation fears and led to uncertainty about US interest rate expectations.

Gold in spot transactions fell 0.5% to $4,035.67 per ounce by 03:00 GMT.

US gold futures for August delivery fell 0.7% to $4,042.20.

Gold jumped more than 2% to $4,100.49 per ounce yesterday, recovering from its lowest level in two weeks.

As for other precious metals, silver fell in spot transactions 0.3% to $58.48 per ounce, while platinum rose 0.2% to $1635.56, and palladium increased 0.2% to $1307.11.