The price of precious metals continued to fall on Monday as prospects of a potential ceasefire agreement between Israel and the Lebanese militant group Hezbollah grew.
The ceasefire agreement seeks to ensure Israeli forces withdraw from southern Lebanon as the Lebanese military assumes positions near the border, with Hezbollah's heavy weaponry relocated north of the Litani River. According to anonymous sources, the media reported that the deal has already been reached, with the Israeli cabinet expected to approve the agreement on Tuesday.
Gold dipped 3.04% to sell at $2,625.37 per ounce at 1:12 pm ET. Silver plummeted 3.42% to $30.18 per ounce, while palladium dipped 3.03% to go for $969.94 per ounce. Platinum fell 2.43% to $940.60 per ounce.
