New Delhi, May 14 -- Precious metals traded lower on Thursday, 14 May, as traders refrained from making fresh bets amid geopolitical developments involving Iran, along with the summit between Chinese President Xi Jinping and US President Donald Trump.

A rebound in the US dollar also weighed on precious metals, with Comex gold erasing its opening gains to fall $35 per ounce to the day's low of $4,671, while Comex silver slipped sharply by $5 per troy ounce to a low of $84.36. However, silver remained above the $80 mark for the fifth consecutive session.

If losses in the white metal persist through the close, it would mark silver's biggest intraday decline since 21 April.

Gold and silver have been moving in different directions in recent...