Gold prices slip in Singapore on expectations of cautious US Fed policy

Gold prices in Singapore have declined amid expectations of a more cautious monetary policy from the US Federal Reserve, per Qatar News Agency (QNA).

Spot gold fell 0.4% to $4,986.79 per ounce, while April futures dropped 0.3% to $4,990.70 per ounce.

QNA noted that rising oil prices and concerns over inflationary pressures are making gold less attractive as a non-yielding asset.

Higher interest rates increase the opportunity cost of holding gold, and the Federal Reserve is expected to leave rates unchanged for the second consecutive time.

Other precious metals: silver rose 0.2% to $79.42 per ounce, platinum fell 1.6% to $2,089.55, and palladium dropped 1% to $1,584.75.

By Khagan Isayev