New Delhi, July 22 -- Rates of gold and silver jumped sharply on the MCX on Wednesday, 22 July, tracking a positive global trend, even as crude oil prices jumped, driven by the US-Iran conflict, fuelling concerns over inflation and rate hikes.

MCX gold August futures jumped more than 1% to Rs.1,44,500 per 10 grams, while MCX silver September contracts also climbed more than 1% to surpass the Rs.2,26,350 per kg mark in morning trade on Wednesday.

Domestic gold prices were influenced by the trend in the US, where the yellow metal soared to a nearly two-week high.

(This is a developing story. Please check back for fresh updates.)

Published by HT Digital Content Services with permission from MINT....