New York: Gold edged lower on Monday, weighed down by waning hopes of near term US interest rate cuts due to elevated energy prices, while a softer dollar helped limit losses.

Spot gold was down 0.2 percent at $5,007.58 per ounce, as of 02:40 GMT.

US gold futures for April delivery fell 1 percent to $5,011.10.

Spot silver fell 1.2 percent to $79.57 per ounce.

Spot platinum gained 0.8 percent to $2,042.98 and palladium rose 1 percent to $1,566.91.