Gold rate declines on MCX as fresh escalations in US-Iran tensions drive oil prices up, fueling US Fed rate-hike bets

Gold and silver rates declined on MCX as fresh escalations in US-Iran tensions drove oil prices up. MCX gold August futures were 0.40% down at ₹1,43,583 per 10 grams, while MCX silver September contracts were 0.26% down at ₹2,22,899 per kg around 9:15 am.