New Delhi, Dec. 29 -- Gold and silver prices saw a sharp retreat from the day's highs during Monday's session, December 29, as the prolonged rally appeared to trigger profit booking, while easing geopolitical tensions and China's export restrictions also fueled the decline.

February gold contracts fell around 3% or Rs.4,273 from the day's high of Rs.1,40,444 to reach the day's low of 1,36,171 per 10 grams.

Silver prices, even more corrected sharply by over 10% as the metal took a roller-coaster ride on Monday after crossing the Rs.2.5 lakh mark on MCX for the first time.

After gaining Rs.16,000 per kg on Friday, silver rates extended their record-breaking run into Monday as well. Contracts for March delivery gained another Rs.14,400 pe...