New Delhi, July 13 -- The price of the yellow metal in India's retail market declined on Monday, 13 July, amid renewed tensions between the United States and Iran, as the US and Iran exchanged strikes in a bid to exert control over the Strait of Hormuz.

Both 24-karat and 22-karat gold rates are showing a marginal decline across major cities. Silver prices, on the other hand, also declined in the domestic bullion market.

MCX gold rate on 13 July was trading 1.12% lower at Rs.142,410 per 10 grams. MCX silver futures, on the other hand, were trading about 2.14% lower at Rs.218,230 per kg at around 9:22 AM.

Oil prices rose Sunday evening after the US and Iran traded strikes as they contest control of the Strait of Hormuz, one of the most i...