Gold continues to drop on MCX, falls by Rs 1.5k per 10 grams, silver too slides | Check city-wise rates

Rates of precious metals in futures continued to slide amid fresh US strikes on Iran. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a fall of Rs 1,499 or 1.01 per cent at Rs 1,46,518 per 10 grams against the previous close of Rs 1,48,017. It fell further to an intraday low of Rs 1,46,444, down Rs 1,573 or 1.06 per cent. However, it saw some buying at lower levels and rose to an intraday high of Rs 1,48,089. Last seen, it was trading at Rs 1,47,650 with a fall of Rs 367 or 0.25 per cent.