Singapore, – Gold prices lingered near a three-week low on Thursday as the initial safe-haven demand from the Middle East conflict faded, while investors awaited comments from U.S. Federal Reserve Chair Jerome Powell for more clues on interest rates.
Spot gold was down 0.1% at $1,948.39 per ounce after hitting its lowest since Oct. 19 on Wednesday. U.S. gold futures fell 0.2% to $1,953.50.
Gold prices rose above the key $2,000-per-ounce level last week after escalating tensions in the Middle East lifted demand.
Spot silver fell 0.5% to $22.41 per ounce, while platinum gained 0.4% to $869.70.
Palladium slipped 0.9% to $1,040.77, hovering near its lowest level since 2018.
Source: Qatar News Agency