News agencies
Spot gold rate today fell 2.12% to $5,049 per ounce, while spot silver prices plunged 3.51% to $81.34 per ounce, during the Asian trading hours on Monday, amid escalating tensions in the Middle East.
Gold and silver have faced pressure as surging crude oil prices have fuelled inflation concerns in the US, increasing the chances that the Federal Reserve may keep interest rates higher for longer or even consider further hikes, according to Bloomberg.
