Gold prices fall 0.5%

Gold prices eased on Monday as a surge in oil prices stoked inflation concerns, ‌boosting expectations that the US Federal Reserve may raise interest rates at its policy meeting this week.Spot gold was down 0.5 per cent at $4,327.09 per ounce by 05:28 GMT after posting a third consecutive weekly decline on Friday.US gold futures dropped 0.9 per cent to $4,367.50.Among other metals, spot silver slid 1 per cent to $63.80 per ounce, platinum dipped 0.2 per cent to $1,792.59, and palladium fell 0.4 per cent to $1,293.86.WAM