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Bullion counters witnessed a sharp drop in the opening trade on Tuesday as traders resorted to profit booking following a massive rally in the previous session that led precious metals to record highs.

Gold futures fell 1.34 per cent or Rs 584 to Rs 42,996 per 10 grams while silver futures plunged 1.67 per cent or Rs 825 to Rs 48,580 per kg.

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