Gold and silver, after experiencing a major downfall since the start of this week on Wednesday, observed a marginal hike. While the reasons behind their decline in the last few days were majorly because the margin requirements are set to take effect on the Chicago Mercantile Exchange (CME) in the US, the upward trend on Wednesday might just be because of the intensified buyback by the investors. 

MCX gold futures during the start of this week fell by 1.77 per cent to Rs 1,45,132 per 10 grams on an intraday basis. Meanwhile, MCX silver March futures on February 1 dipped 6.88 per cent to Rs 2,47,386 per kg.