Gold and silver prices decline on MCX due to profit booking; elevated crude oil, US Fed's policy decision in focus

MCX gold and silver prices declined on Thursday due to profit booking after a jump of up to 2% the previous day. MCX gold August contracts fell 0.32% to ₹1,45,207 per 10 grams, while MCX silver September futures dropped 0.23% to ₹2,26,474 per kg. Rising crude oil prices driven by US-Iran tensions and the upcoming US Federal Reserve policy decision remain key focal points for traders.