New Delhi, July 1 -- The price of the yellow metal in India's retail market dropped on Wednesday, 1 July, with both 24-karat and 22-karat gold rates showing marginal declines across major cities. Silver prices also decreased in the domestic bullion market.

MCX gold rate on 1 July for August futures contracts was trading 0.94% lower at Rs.141,600 per 10 grams. MCX silver futures, on the other hand, were trading about 1.86% lower at Rs.224,520 per kg at around 9:13 am.

Oil prices closed out a month marked by significant declines on Tuesday, as energy market traders closely monitored the potential for fresh talks between the US and Iran in Qatar.

Brent crude futures for August delivery, the international benchmark, ticked lower to $72.92 ...