New Delhi, July 31 -- Gold and silver prices retreated on Friday, 31 July, as a rebound in the US dollar and hawkish comments from Federal Reserve officials weighed on investor sentiment. The pullback came after both precious metals posted strong gains in the previous session on the back of a weaker dollar.

Comex gold futures fell $84 per troy ounce to an intraday low of $4,076, giving up part of Thursday's $124 rally. Despite the decline, the yellow metal remained 1.5% higher for July, putting it on track to register its first monthly gain since February.

Silver also gave back part of its recent gains, falling $1.80 per troy ounce to $57.22. Unlike gold, however, the white metal remained under pressure for the month and was on track to...