Gold, silver prices today: Comex gold slips $107, silver drops $3 as Middle East tensions escalate; Fed minutes in focus

Gold and silver prices fell sharply on Wednesday as renewed US-Iran tensions boosted the dollar and lifted rate hike expectations. COMEX gold slipped $107 to $4,050 per ounce while silver dropped about $3 to $58.42, with MCX gold falling ₹2,779 to ₹1,42,613 per 10 grams and MCX silver declining nearly ₹10,000 to ₹2,21,076 per kg. Traders are now pricing in a 67 percent probability of a US rate hike in September, up from 62 percent, ahead of the FOMC June meeting minutes due later in the day.