Gold prices dip to Rs 1.43 lakh/10 grams, silver below Rs 2.23 lakh/kg. What lies ahead?

Gold futures on MCX with August expiry fell 0.4% to Rs 1,43,545 per 10 grams, while silver futures with September expiry declined to Rs 2,22,954 per kg. Internationally, spot gold dropped 0.7% to $4,061.35 per ounce and is headed for a fourth consecutive monthly loss of 10.4%. The decline comes amid Iran-US tensions and shifting expectations of three Fed rate hikes this year, with traders pricing in an about 80% chance of a December increase.