TNI Bureau: Gold and silver prices saw a steep fall today, weighed down by heavy profit booking and weak global cues.

On the Multi Commodity Exchange (MCX), gold for April 2 delivery was trading at Rs 1,38,256 per 10 grams, down nearly 3 per cent, or about Rs 4,000. Silver for March 5 delivery slipped around 6 per cent, or nearly Rs 16,000, to Rs 2,49,713 per kg.

International markets showed similar weakness. Around 10 am, gold was trading at $4,689.43 per ounce, down 4.20 per cent, while silver fell 6.51 per cent to $79.76 per ounce.

According to CME, margin requirements for gold and silver futures will be raised across all risk categories. For gold, margins will rise from 6 per cent to 8 per cent for non-heightened risk positions and from 6.6 per cent to 8.8 per cent for heightened risk positions. For silver, margins will increase from 11 per cent to 15 per cent and from 12.1 per cent to 16.5 per cent, respectively.