Gold, silver rates today: Comex gold and silver prices fall as Middle East tensions spark Fed rate hike fears

Gold and silver prices fell sharply on Monday as renewed US-Iran tensions fuelled inflation concerns and Fed rate hike expectations. Comex gold dropped $84 to $4,012 per ounce while silver fell $1.40 to $57.84. On MCX, gold declined by Rs 2,305 to Rs 1,41,857 per 10 grams and silver fell Rs 902 to Rs 2,20,502 per kg. Gold is down about 23% since the conflict began in late February, while silver has corrected nearly 47% from its record high.