Gold prices on Thursday dipped to Rs 99,700 per 10 grams, down from Rs 99,620 per 10 grams the previous day, according to the Indian Bullion Association, amid the escalating Israel-Iran conflict.

Some of the major metro cities saw a similar trend on June 19. In New Delhi, the price stood at Rs 99,350 per 10 grams, compared to Rs 99,270 per 10 grams on Wednesday. Gold price in Mumbai was Rs 99,520 per 10 grams against Rs 99,440 per 10 grams. In Kolkata, the rate was Rs 99,390 per 10 grams, while in Bengaluru the rate stood at Rs 99,600. The price for the precious commodity was the highest in Chennai, trading at Rs 99,810 per 10 grams.

In the United States, gold was trading lower at $3,395.30 an ounce.

Aug. 5 futures for the yellow metal saw a 0.03% decline to Rs 99,510, according to the Multi Commodity Exchange.

Silver price dropped on Thursday, standing at Rs 1,09,020 per kg, compared to an all-time high at Rs 1,09,230 per kg on Wednesday. July 4 futures for the commodity saw a 0.03% decline to stand at Rs 1,08,535 per kg.

It was trading at $36.73 in the United States on June 19.