Gold prices fall sharply in Indian bullion market

In the Indian bullion market, 24 carat Gold was trading 5.3 per cent down at 1 lakh 61 thousand and 440 rupees per 10 grams. Silver was trading 12.4 per cent lower at 3 lakh 52 thousand 640 rupees per kilogram, a short while ago. 
 
At the Multi Commodity Exchange, the Gold for February contract was trading 5 per cent lower at 1,60,952 per 10 grams. Silver for the March contract was also trading 11.6 per cent down at 3,53,300 rupees per kilogram, when reports last came in.