New Delhi, June 29 -- Gold and silver prices resumed their losing streak on Monday, 29 June, as renewed tensions in the Middle East sparked concerns over inflation and the prospect of further interest rate hikes by the US Federal Reserve.

Comex gold futures fell $84 per troy ounce to an intraday low of $4,012, snapping a two-day winning streak. Comex silver futures declined $1.40 per troy ounce to $57.84.

Silver ended last week down 10.7%, extending its weekly losing streak to seven weeks, and is on track to end June with losses of more than 20%.

Meanwhile, gold posted a 1.7% weekly decline last week and remains on course to lose more than 10% in June, which would mark its fourth consecutive monthly decline.

Hostilities between the US...