Gold prices fell for the fourth consecutive day due to remarks by Federal Reserve Chairman Jerome Powell regarding potential interest rate rises. Gold and silver futures on the MCX dropped to Rs 58,635 and Rs 68,818 respectively, with gold declining 0.13% and silver down 0.62%. However, gold managed to recover to $1,943.50 per troy ounce after falling to $1,919 at the start of Powell's statement. Despite June declines of 3% for gold and 5% for silver, prices are up 7% and 0.76% on a YTD basis respectively, according to Anuj Gupta, of Commodity and Currency Research at IIFL Securities.