Gold and silver prices witnessed a sharp decline on the MCX, with silver dropping by over ₹33,000 per kg and gold becoming cheaper by ₹4,227 over the last five days. The fall is attributed to government decisions regarding import duties. However, domestic market rates reported by IBJA showed a slight contrary trend with minor price hikes. Silver on MCX opened ₹2,500 cheaper today, while gold futures traded around ₹1,57,959.
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