New Delhi, Aug. 17 -- Rates of gold and silver climbed by up to 1% in early deals on the MCX on Monday, 17 August, amid a decline in the US dollar and weakening expectations for a US Fed interest rate hike in September.

However, stalled US-Iran talks and uncertainty over the full opening of the Strait of Hormuz kept inflation fears strong, capping gains for the yellow metal.

Brent crude, the international crude oil benchmark, rose by 1% to trade near $90 per barrel, heightening worries that inflation may remain above the Fed's 2% target for longer, prompting the central bank to start hiking rates by the end of this year.

MCX gold October futures were 0.37% up at Rs.1,55,079 per 10 grams, while MCX silver September futures were 0.74% up...