Mumbai: Gold and silver prices fell on Friday, after hitting record highs in the previous session as investors booked profits and the US dollar gained strength. MCX gold February futures fell 1.03 per cent to Rs 1,67,656 per 10 grams around 10 am on an intraday basis. The silver prices had touched Rs 4,20,048 per kg on MCX in the previous session and later fell over 6 per cent to Rs 3,75,900 before it retraced to the current level. International markets saw spot gold prices declining over 4 per cent to $5,156.64 per ounce. Analysts said that the metal remains in a strong rising channel, but the recent move has left prices overbought, resulting in aggressive profit booking.