Gold futures on MCX, India's largest commodity derivatives exchange, fell nearly 5.2% this week, slipping from ₹1.30 lakh/10g to ₹1.23 lakh/10g. Meanwhile, silver futures on MCX fell over 6.3% from ₹1.58 lakh/kg to ₹1.48 lakh/kg. Spot gold and silver prices fell nearly 3.5% and 6.3% to $4,118.90/ounce and $48.54/ounce, respectively. Both precious metals saw record dips on Tuesday.