Doha: Gold prices fell on Monday amid concerns that elevated inflation could keep interest rates higher for longer spot gold fell 0.6% at $4,684.32 per ounce. US gold futures for June delivery lost 0.8% at $4,692.70. Spot silver rose 0.7% at $80.88 per ounce, platinum slid 0.6% to $2,042.71, and palladium was down 0.4% at $1,484.99.

According to Qatar News Agency, the drop in gold prices reflects ongoing apprehensions in the market about the potential for sustained high inflation, which might prompt central banks to maintain elevated interest rates. The fluctuations in the prices of other precious metals such as silver, platinum, and palladium further underscore the market's response to these economic signals.