New Delhi, Oct. 22 -- Gold and silver prices, 22 October: Gold and silver prices fell sharply in the domestic market on Thursday, extending their recent decline. The price of 24K gold dropped by 1.18% to Rs.1,44,650 per 10 grams, while silver prices fell by 2.29% to Rs.2,04,720 per kg, compared with 21 October.

In the international market, spot gold declined 1.22% to $4,090.51 per ounce, while spot silver fell 2.73% to $56.394 per ounce, indicating continued selling pressure on precious metals.

Investors are now closely watching the US Federal Reserve's policy meeting scheduled for October 27-28 for clues about the future direction of interest rates. The Fed's decision will be important for bullion prices because interest rates influenc...