Muscat: Gold prices fell today as a lack of progress in US-Iran peace negotiations pushed oil prices higher, fuelling concerns that rising inflation could keep interest rates elevated for a longer period. Spot gold declined 0.6 percent to $4,684.32 per ounce. US gold futures for June delivery dropped 0.8 percent to $4,692.70 per ounce. The dollar strengthened, making the greenback-priced metal more expensive for holders of other currencies.

According to Oman News Agency, among other precious metals, spot silver rose 0.7 percent to $80.88 per ounce, while platinum fell 0.6 percent to $2,042.71 per ounce and palladium slipped 0.4 percent to $1,484.99 per ounce.