New Delhi, Aug. 18 -- Gold and silver prices declined by up to 1% in early trading on Tuesday, 18 August, due to profit-booking amid rising oil prices, which stoked fears of rate hikes by the US Federal Reserve and other major central banks globally.

MCX gold October futures were 0.55% down at Rs.1,55,090 per 10 grams, while MCX silver September contracts were 1% down at Rs.2,35,655 per kg around 9:25 AM.

The crude oil benchmark Brent crude traded above $91 per barrel as US-Iran talks remain stalled. According to reports, Iran is signalling a more aggressive approach, while the US has ruled out extending the ceasefire, raising concerns about potential disruptions to energy supplies through the Strait of Hormuz.

US President Donald Trum...