Gold, silver extend losses amid Middle East tensions; Fed minutes in focus

MCX gold futures fell more than around 1,150 rupees to 1,45,767 per 10 grams, while silver futures plunged 3,250 rupees to 2,35,317 per kg. Internationally, gold retreated 0.7 percent to 4,075 dollars an ounce as a strengthening US dollar and renewed inflation concerns reduced the appeal of non-yielding bullion. Traders are awaiting the minutes of the US Federal Reserve June 16-17 policy meeting, with market expectations of a September rate hike firming up amid rising oil prices and geopolitical tensions around the Strait of Hormuz.