New Delhi, July 27 -- Gold and silver prices climbed in the domestic futures market on Monday (27 July) morning, amid a decline in the US dollar following a significant drop in crude oil prices due to a pause in hostilities between the US and Iran over the weekend.

MCX gold August contract rose about 0.50% to Rs.1,43,784 per 10 grams, while MCX silver September futures jumped more than 1% to Rs.2,24,550 per kg in morning trade on Monday.

The dollar index dropped more than 0.30%, making greenback-denominated precious metals more affordable for buyers in overseas currencies.

Oil prices plunged 5% on Monday after the US and Iran suspended military strikes over the weekend, following two weeks of hostilities.

While there are no clear sign...