New Delhi, April 23 -- Gold and silver prices traded with modest losses on Thursday, 23 April, as a rebound in crude oil prices reignited inflation fears, while a stronger US dollar made precious metals less appealing to investors.

COMEX gold futures dropped $53 per troy ounce to an intraday low of $4,700, while silver futures fell $3.70 to $74.23. The week began with a sense of potential peace in the Middle East, but that optimism eventually faded, amid renewed tensions, dragging both gold and silver to a two-week low.

Inflation fears returned to the spotlight as crude oil prices extended their gains for a fourth straight session after remaining subdued over the past two weeks, amid limited progress in diplomatic efforts between the US...