New Delhi, July 6 -- The price of the yellow metal in India's retail market declined on Monday, 6 July, amid hopes of a sustained global economic recovery, bolstered by a hopeful end to the war in the Middle East.

The US Federal Reserve is also expected to ease its aggressive rate-hike plan in the months ahead, with both 24-karat and 22-karat gold rates showing a marginal decline across major cities. Silver prices, on the other hand, also declined marginally in the domestic bullion market.

MCX gold rate on 6 July was trading 0.01% lower at Rs.147,830 per 10 grams. MCX silver futures, on the other hand, were trading about 0.19% lower at Rs.237,250 per kg at around 9:13 am.

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