New Delhi, June 25 -- The price of the yellow metal in India's retail market dropped on Thursday, 25 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 0.16% lower at Rs.141,220 per 10 grams. MCX silver futures, on the other hand, were trading 0.96% lower at Rs.211,710 per kg at around 9:13 am.

Oil prices erased wartime gains on Thursday as investors bet that global crude supplies would improve after tankers stranded in the Persian Gulf for months began leaving the Strait of Hormuz.

US crude for August delivery dropped 1.66% to around $69 a barrel, and Brent...