Doha: Gold prices fell below USD 4,000 per ounce on Monday as demand for the precious metal weakened. Spot gold dropped 2.9 percent to reach USD 3,991.39 per ounce, while US gold futures declined 3.2 percent, settling at USD 4,005.70 per ounce.

According to Qatar News Agency, other precious metals also faced declines. Silver fell 4 percent in spot trading to USD 46.65 per ounce. Platinum decreased 1.1 percent to USD 1,588.71, and palladium dropped 1.6 percent to USD 1,405.56 per ounce.