Muscat: Gold prices declined slightly after paring most of the losses recorded earlier in the day, amid the possibility of extending the ceasefire between Lebanon and Israel. Spot gold fell 0.3 percent to $4,723.61 per ounce. US gold futures for June delivery also declined 0.2 percent to $4,741.50.

According to Qatar News Agency, other precious metals also experienced declines. Spot silver fell 2.3 percent to $75.89 per ounce, and platinum dropped 2 percent to $2,032.77, after both hit their lowest levels in more than a week earlier. Palladium fell 2.2 percent to $1,511.17, after touching its lowest level in more than two weeks.