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 0.58% lower at Rs.98,807 per 10 grams, as against its previous close of Rs.99,388 level. Gold price hit an intraday low of Rs.96,422 on MCX in early trade, falling as much as 2.98%. MCX Silver rate opened 0.24% lower at Rs.1,06,502 per kg as compared with its previous close of Rs.1,06,759. It hit a low of Rs.1,05,905 level.

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...