Muscat: Gold prices slipped today as investors booked profits after a sharp rise in the previous session following weaker-than-expected US jobs data that boosted expectations for a Federal Reserve interest rate cut in September. Spot gold lost 0.3% to $3,351.80 per ounce, after bullion had risen more than 2% on Friday. However, US gold futures gained 0.2% to $3,404.80.

According to Oman News Agency, the dollar index fell 0.5% against a basket of rivals, making gold more affordable for holders of other currencies. This currency movement played a significant role in the fluctuations of the gold market. In addition to gold, other precious metals experienced declines. Spot silver fell 0.5% to $36.83 per ounce, while platinum slipped 0.6% to $1,307.25 and palladium dipped 1.6% to $1,189.27.