Gold Prices Plummet in Market Downturn

Gold prices fell today, Tuesday, but remain above their lowest level in a month and a half recorded in the previous session.

Gold in spot transactions decreased by 0.5 percent to ⁠dollars per ounce by o'clock GMT.

U.S. gold futures for June delivery dipped 0.2 percent to 4546.90 dollars.

Gold prices dropped 2.4 percent on Friday, marking the largest daily decline since March 26. The precious metal continued its losses on Monday as increasing inflation concerns led to a sharp downturn in the global bond market.

However, gold recovered to close slightly higher in yesterday's session.

For other precious metals, silver fell in spot transactions by two percent to 76.09 dollars per ounce.

Platinum decreased by 0.7 percent to 1965.40 dollars, while palladium dropped 1.5 percent to 1397.50 dollars.