New Delhi, June 24 -- The sell-off in precious metals intensified in Wednesday's trade, June 24, with both gold and silver falling to multi-month lows. A stronger US dollar, amid rising expectations of a US Federal Reserve rate hike this year, has made the metals less attractive to safe-haven buyers.

Comex gold fell by another $169 per troy ounce, slipping below the $4,000 mark for the first time since mid-November to hit $3,980. The decline widened its losses for June to 13%, putting it on track for its biggest monthly fall in more than a decade if the weakness persists through the month.

The precious metal had posted double-digit gains in each of the previous three years, more than doubling in price as central banks, money managers an...