Gold rates fell sharply in Indian markets today, tracking a weak trend in international rates. On MCX, gold fell 1.3% or around ₹700 per 10 gram to ₹51,329 per 10 gram, its biggest single-day fall in about 3 months. Silver on MCX tumbled ₹1,500 or 2.5% to ₹59340 per kg. In international markets, the yellow metal was down 0.7% at $1,682 per ounce as renewed bets of sharp rate hikes by Fed lifted US dollar. The dollar index rose 0.2%, making gold costlier for buyers holding other currencies.