New Delhi, June 8 -- Gold rate declined in morning deals on MCX on Monday, 8 June, due to rising tensions in the Middle East. The uncertainty has resulted in higher crude oil prices and a flat dollar index, as investors carefully wait for the next developments in the ongoing war between US and Israel against Iran.

The prospects of a peace deal between the US and Iran continue to look bleak, due to the most recent developments and the actions of Israel and a counter from Iran.

MCX gold rate today for August futures contracts was trading 0.94% lower at Rs.1,54,290 per 10 grams. MCX silver futures, on the other hand, were trading 1.6% lower at Rs.2,45,120 per kg at around 9:52 am.

Foreign investors have dumped billions of dollars' worth o...