Riyadh: Gold prices edged lower Monday, weighed down by receding hopes for a near-term US interest rate cut due to rising energy prices, while a weaker dollar helped limit the losses. Spot gold fell 0.2 percent to $5,007.58 per ounce. US gold futures for April delivery dropped 1 percent to $5,011.10.

According to Qatar News Agency, the dollar eased slightly, making dollar-denominated commodities like gold less expensive for holders of other currencies. Conversely, oil prices remained above $100 per barrel as the US-Israeli war on Iran entered its third week.

In other precious metals, spot silver declined 1.2 percent to $79.57 per ounce, platinum rose 0.8 percent to $2,042.98, and palladium climbed 1 percent to $1,566.91.