Gold and silver prices witnessed a sharp fall today following the US Federal Reserve’s latest policy decision announced overnight. On the Multi Commodity Exchange, gold futures were trading around 1 per cent, or 1,313 rupees, lower at 151,712 rupees, while Silver futures declined 2 per cent or 5,111 rupees, to 243,083 rupees. Meanwhile, oil prices surged by up to 5 per cent.