New Delhi, June 15 -- Precious metals were trading sharply higher on Monday, 15 June, as expectations of interest-rate hikes eased after the US and Iran reached a deal to end hostilities and reopen the Strait of Hormuz.

Comex gold futures jumped $123 per troy ounce to the day's high of $4,391, building on a 3% gain recorded in Friday's session.

Silver futures rallied even more sharply, rising $3.4 per troy ounce to $71.4. In the previous session, the white metal had surged more than 6%, marking one of its strongest single-day advances in over a month.

Both metals, which have remained highly volatile since the start of the conflict, attracted safe-haven demand after the US and Iran agreed to end the Middle East conflict, which had unset...