New Delhi, July 16 -- Gold and silver prices traded lower on the MCX on Thursday (16 July) morning, as escalating tensions between the US and Iran fuelled concerns over inflation staying at elevated levels for a longer period, prompting the US Federal Reserve to hike rates this year.

MCX gold August futures was 0.39% down at Rs.1,41,301 per 10 grams, while MCX silver September futures were 0.44% down at Rs.2,19,650 per kg around 9:10 am.

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

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