Singapore: Gold prices dropped Monday to their lowest levels in more than three weeks, amid a widespread wave of selling by investors seeking to cover losses in other markets, amid growing fears of a global economic recession due to escalating trade tensions.
Spot gold fell 0.1 percent to $3,034.02 per ounce, after falling more than 1 percent earlier in the session, recording its lowest level since March 13.
Conversely, US gold futures rose 0.5 percent to $3,051.00 per ounce.
As for other precious metals, spot silver rose 2 percent to $30.13 per ounce, after hitting its lowest level in nearly seven months. Platinum also rose 1 percent to $926.06, while palladium gained nearly 1 percent to $919.50.
