India, June 24 -- The global precious metals market saw trading commence the week on the backfoot due to investor reaction to the appreciation of the US dollar, along with changing interest rate expectations and divergent demand indicators. The week saw gold and silver trading on 24th June 2026 amid caution.

Gold and silver futures witnessed a sharp decline at the opening of trade on the Multi Commodity Exchange (MCX) on Wednesday, as strength in the US dollar and increasing expectations of further US interest rate hikes overshadowed the positive sentiment generated by lower oil prices and the gradual reopening of the Strait of Hormuz.

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