Gold prices eased on Friday, June 5, amid uncertainty surrounding a possible peace agreement between the United States and Iran, stalled ceasefire efforts between Israel and Lebanon, growing inflation concerns, and expectations of a potential interest rate hike by the US Federal Reserve.

According to sources, spot gold slipped 0.5 per cent to USD 4,452.20 per ounce by 0225 GMT and has declined nearly 1.8 per cent so far this week. US gold futures for August delivery also fell 0.6 per cent to USD 4,478.50 per ounce.