New Delhi, July 10 -- Following strong gains in the previous session, precious metals turned volatile in Friday's trade (10 July), swinging between gains and losses before trading mostly lower and remaining on track to end the week in negative territory.

Comex gold futures fell $59 per troy ounce to an intraday low of $4,081, taking their week-to-date losses to 0.20%. Comex silver futures declined nearly $1.5 per troy ounce to $59.25, extending their weekly decline to 1.24%.

Renewed tensions in the Middle East have revived concerns that persistent geopolitical risks could keep interest rates elevated for longer. While gold typically benefits from safe-haven demand during periods of uncertainty, higher interest rates increase the appeal ...