New Delhi, Aug. 5 -- Gold and silver rates on the MCX climbed on Wednesday (5 August) morning amid declines in the US dollar and crude oil prices, while investors' focus was also on the RBI MPC policy decision today.

MCX gold October futures were 0.56% up at Rs.1,45,110 per 10 grams, while MCX silver September futures were nearly 1% up at Rs.2,23,690 per kg around 9:10 AM.

The dollar index declined by about 0.10% to 99.77, making greenback-denominated bullion slightly cheaper for buyers in other currencies.

Crude oil benchmark Brent crude declined more than 1% to trade near $78 per barrel, even as US President Donald Trump said that the Strait of Hormuz will open 'very soon' or Iran will be 'hit very hard' amid ongoing talks between Ir...