New Delhi, June 23 -- Precious metals continued to drift lower for the third straight session on Tuesday, 23 June, as expectations of a US Federal Reserve rate hike strengthened, boosting demand for the US dollar globally and making dollar-denominated commodities more expensive for holders of other currencies.

Comex gold futures remained under pressure, falling another $94 per troy ounce to an intraday low of $4,108, erasing most of the gains accumulated in recent sessions.

Silver prices, which are generally more volatile than gold, declined sharply by $4.05 per troy ounce to a low of $61.53, marking their lowest level since late March.

The latest decline has extended silver's June losses to 18%, putting it on track for its biggest mon...