New Delhi, May 22 -- Gold and silver prices today on 22 May: Gold prices were trading lower on the MCX on Friday morning amid weak global cues, rising inflation and speculations that the US Federal Reserve may have to tighten monetary policy in the near future due to increased inflationary risks.

MCX gold June futures were down 0.21% at Rs.1,60,080 per 10 grams, while MCX silver July futures were 0.39% down at Rs.2,74,480 per kg around 9:35 am.

The ongoing uncertainty over the Middle East conflict is keeping gains in the yellow metal in check. The focus is now on how the war evolves going forward, as a truce between the US and Iran could help lower oil prices, providing much-needed relief from inflation worldwide.

Oil prices resumed th...