New Delhi, July 8 -- Precious metals extended their losses on Wednesday, 8 July, as renewed tensions in the Middle East boosted the US dollar and weighed on investor sentiment, putting gold and silver on track for a second consecutive session of declines.

COMEX gold futures fell another $107 per troy ounce to an intraday low of $4,050, while silver futures dropped nearly $3 per troy ounce, slipping below the $60 mark to an intraday low of $58.42. In the previous session, gold and silver had settled 0.24% and 1.60% lower, respectively.

Tensions in West Asia, which had eased in recent weeks, flared up again after the US launched fresh strikes on Iran, saying the move was in response to Tehran's alleged attacks on ships transiting the Stra...