Gold prices ease after two-week high as precious metals show mixed moves

Gold prices edged lower on Monday after reaching their highest level in two weeks.

Spot gold fell 0.4 per cent to US$4,518.09 per ounce as of 03:06 GMT, after hitting a two-week high in the previous session. US gold futures for August delivery declined 1 per cent to US$4,548.90.

Meanwhile, other precious metals recorded gains. Spot silver rose 0.4 per cent to US$75.58 per ounce, platinum increased 1.1 per cent to US$1,937.30, and palladium advanced 1.2 per cent to US$1,370.50.