Gold prices up in spot trading as decline in oil prices eases inflation fears

CAPITALS (WAM)

Gold prices rose in spot trading this morning as a decline in oil prices eased inflation fears, while investors await a series of US economic data releases this week to assess the Federal Reserve's policy outlook.

Gold prices rose 4% to $5,213.99 per ounce. Spot silver rose 6% to $88.89. Spot platinum gained 1% at $2,221.48, while palladium up 1.5% ​to $1,679.73.