New Delhi, Feb. 10 -- Gold and silver prices have remained volatile in recent sessions due to profit-booking at elevated levels, even as the medium- and long-term outlook for precious metals continues to be positive.

On Tuesday, MCX gold prices declined by more than Rs.2,000, or 1.3%, to Rs.1,56,001 per 10 grams, while MCX silver prices plunged over Rs.5,500, or more than 2%, to Rs.2,57,100 per kg.

Gold prices are currently trading around 16% below the record high price of Rs.1,80,779 per 10 grams, reached on January 29. Meanwhile, silver prices are 59% away from the all-time high price of Rs.4,08,487 per kg.

Due to volatility in the precious metals, gold and silver-linked ETFs have also witnessed a sharp fall in recent sessions after ...