Gold prices fall for 3rd straight session; silver dips to Rs 2.30 lakh/kg as rising oil prices fuel rate hike bets. Buy, sell or hold?

Gold prices fell for a third straight session with MCX August gold futures down Rs 222 at Rs 1,45,170 per 10 grams, while silver futures for September dropped Rs 842 to Rs 2,30,015 per kg. The decline was driven by US military strikes on Iran, a near 3% jump in US oil prices, and rising expectations of a September Fed rate hike, with markets now pricing in a 67% probability versus 57% earlier. Internationally, spot gold slipped to $4,100.32 an ounce while silver fell to $59.82; experts advise against fresh positions ahead of the FOMC minutes release.