New Delhi, June 24 -- Gold prices on Multi Commodity Exchange (MCX) opened sharply lower on Tuesday, following weakness in international bullion prices as the announcement of Israel-Iran ceasefire by US President Donald Trump dented the safe-haven appeal for the yellow metal.

MCX gold rate opened lower at Rs.98,807 per 10 grams, as against its previous close of Rs.99,388 level. Gold hit an intraday low of Rs.96,422 in early trade.

At 9:10 AM, MCX gold price was trading lower by Rs.1,210, or 1.22%, at Rs.98178 per 10 grams. MCX silver price was down by Rs.825, or 0.77%, at Rs.1,05,934 per kg.

In the global markets, gold prices fell to a near two-week low as risk appetite improved after Trump said Iran and Israel had agreed to a ceasefir...