New Delhi, May 4 -- Gold and silver prices in India declined sharply on Monday, tracking losses in international bullion markets. Persistent concerns over elevated inflation and the prospect of higher interest rates continued to weigh on the appeal of non-yielding safe-haven assets.

MCX gold rate for June delivery fell by Rs.1,115, or 0.74%, to Rs.1,50,237 per 10 grams. MCX silver futures for July delivery dropped by Rs.3,998, or 1.59%, to Rs.2,46,939 per kg.

In global markets, bullion prices also remained under pressure. Spot gold prices slipped 0.5% to $4,588.71 per ounce, while US gold futures for June delivery declined 0.9% to $4,600.60. Spot silver prices eased 0.6% to $74.91 per ounce.

Investor sentiment remained cautious amid un...