Doha: Gold prices extended losses on Monday on rising fears of a US rate hike after a strong jobs report. Spot gold fell 0.4% to $4,313.11 per ounce. Prices had already decreased about 3% on Friday, reaching the lowest point since March 24. US gold futures for August delivery were down 0.7% at $4,336.30.

According to Qatar News Agency, the decline in gold prices has been accompanied by a slight drop in spot silver, which fell 0.4% to $67.56 per ounce. Platinum also experienced a decrease, losing 0.5% to settle at $1,767.15. Meanwhile, palladium remained steady at $1,225.66.

The fluctuations in the precious metals market are attributed to increasing speculation over potential interest rate hikes in the United States, following the release of a robust jobs report. These concerns have led investors to reassess their positions in the market, causing further declines in gold and other metals.