The prices of precious metals continued to decline on Monday, with gold and silver plunging sharply amid rising inflation fears, elevated oil prices, and strengthening expectations of global rate hikes as the US-Israel conflict with Iran showed no signs of easing. Market participants will keep a close watch on key economic indicators for direction, including manufacturing and services PMI data from the US, as well as consumer sentiment figures and jobless claims. Gold lost 8.03% at 3:06 am ET, going for $4,137.87 per ounce, while silver fell by 9.16% and went for $61.89 per ounce. Platinum plunged 3.69% at 3:09 am ET to go for $1,879.17 per ounce, and palladium dropped 2.09% and sold for $1,384.26 per ounce.