London: Gold prices fell on Monday as a rise in oil prices renewed inflation concerns, bolstering expectations for further interest rate hikes.
Spot gold dropped 1.03 percent to $4,045.95 an ounce, while US gold futures for August delivery also declined.
The precious metal had hit its lowest level in more than seven months last week.
Among other precious metals, spot silver slid 1.21 percent to $58.4467 an ounce, platinum fell 1.88 percent to $1,584, and palladium dipped 0.07 percent to $1,208.28. (
