Doha: Gold prices declined today after touching their highest level in two weeks, pressured by a stronger US dollar. However, losses remained limited amid signs of a slowdown in the US labor market, which eased expectations of further increases in US interest rates. Spot gold fell 0.8 percent to $4,143.12 per ounce after earlier reaching its highest level since June 22.

According to Qatar News Agency, the US dollar strengthened 0.2 percent, making dollar-denominated gold more expensive for holders of other currencies. This increase in the value of the US dollar played a crucial role in the retreat of gold prices from their recent highs.

Among other precious metals, spot silver fell 1.2 percent to $61.63 per ounce after earlier reaching its highest level since June 23. Platinum declined 0.7 percent to $1,626.10 per ounce, while palladium fell 0.8 percent to $1,264.16 per ounce. The overall decline in precious metals can be attributed to the stronger US dollar, which affects the purchasing power of international buyers.