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

MCX gold rate today for August futures contracts was trading 1.17% lower at Rs.145,060 per 10 grams. MCX silver futures, on the other hand, were trading 0.39% lower at Rs.2,25,490 per kg at around 9:27 AM.

Oil prices ticked lower Tuesday as investors monitored tanker traffic through the Strait of Hormuz. Brent crude futures, the international benchmark, fell 82 cents to close at $77.08 a barrel. West Texas Intermediate futures declined 65 cents to settle at $73.21.

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