Gold and silver prices witnessed a sharp fall on Thursday following the US Federal Reserve’s latest policy decision announced overnight, even as escalating geopolitical tensions in the Middle East kept bullion in focus. 

On the Multi Commodity Exchange (MCX), gold futures (April 2) were trading around 1 per cent, or Rs 1,313, lower at Rs 1,51,712, hitting an intraday low at around 10:22 am. Similarly, silver futures (May 5) declined to Rs 2,43,083, down 2 per cent or Rs 5,111.