Gold and silver prices fall in global market

Spot gold fell 0.5 per cent to $4,576.30 an ounce, while US gold futures also dropped 0.8 per cent to $4,629 an ounce.

Spot silver fell one per cent to $68.54, palladium fell 0.8 per cent to $1,339.84 and platinum fell 0.6 per cent to $1,834.83 an ounce.

According to the report, the chance of a US interest rate rise is 33.9 per cent, while the chance of a rise by December is 74 per cent. Experts said gold becomes relatively less attractive when interest rates are high, as it yields no return.