New Delhi, Nov. 15 -- Gold and silver prices have taken a sharp knock, offering some relief to buyers ahead of India's wedding season. However, the recent correction in precious metals has also raised concerns about whether the sell-off has further room to run, particularly as hotter-than-expected US inflation strengthens expectations of another Federal Reserve rate hike.

On the Multi Commodity Exchange (MCX), gold futures for December delivery ended Friday higher by Rs.525, or 0.39%, at Rs.1,36,750 per 10 grams. Silver contracts also recovered, gaining Rs.234, or 0.13%, to Rs.1,76,543 per kg.

Despite Friday's recovery, both metals remained sharply lower for the week. MCX gold declined around 4.6%, while silver fell nearly 5%, reflectin...