New Delhi, June 29 -- The price of the yellow metal in India's retail market dropped on Monday, 29 June, 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 29 June for August futures contracts was trading 0.32% lower at Rs.144,130 per 10 grams. MCX silver futures, on the other hand, were trading about 0.13% lower at Rs.223,470 per kg at around 9:13 am.

Oil edged higher on Monday after renewed military strikes between the US and Iran over the weekend reignited concerns over crude supplies from the Middle East, along with the possibility of further disruption in global trade lines.

West Texas Intermediate futures rose 1.3%...