New Delhi, May 28 -- Gold prices slipped in the international markets on Thursday, 28 May as a stronger US dollar and fresh US attack escalating on Iran rattled global commodity markets, raising fears that inflation could remain elevated for longer than expected.

Spot gold fell 0.8% to $4,419.60 per ounce as of 0129 GMT, while US gold futures for June delivery dropped 0.7% to $4,417.10. Silver prices also came under pressure, with spot silver declining 1.7% to $73.34 per ounce. Indian commodity markets remained shut on Thursday, May 27, on account of Bakrid.

The biggest trigger behind the fall in bullion prices was the strengthening of the US dollar, which made dollar-priced commodities like gold more expensive for holders of other curr...