New Delhi, April 20 -- Gold and silver prices fell up to 2.5% on Monday, April 20, after ships were attacked in the Strait of Hormuz over the weekend, reviving concerns about disruptions to energy supplies and adding to inflation worries amid over seven weeks of conflict in the Middle East.

The COMEX gold rate today was down 2% to $4,780 per ounce, erasing most of last week's 1.7% advance. Meanwhile, the COMEX silver rate today plunged 2.5% to $78.75 per ounce during the Asian trading hours on Monday.

Gold has declined roughly 9%, and silver has lost around 14% since the beginning of the US-Iran war in late February.

According to a Bloomberg report, President Donald Trump said that the US Navy had fired on and seized an Iranian-flagged...