New Delhi, June 18 -- Gold and silver prices in India crashed on the Multi Commodity Exchange on Thursday amid heavy selling.

MCX gold rate for August futures contracts opened lower by Rs.1,573, or 1%, at Rs.1,52,306 per 10 grams as against its previous close of Rs.1,53,879 level.

MCX silver price for July futures contracts opened lower by Rs.3,807, or 1.51%, at Rs.2,48,000 per kg, as compared to its previous close of Rs.2,51,807 level.

In the international market, gold prices rose more than 1%, recouping losses from the previous session, as a drop in oil prices following a US-Iran interim agreement dampened inflation expectations and supported bullion.

Spot gold price rose 1.4% to $4,316.42 per ounce, after declining 1.7% on Wednesda...