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Gold Prices Climb After Recent Market Sell-Off
(MENAFN) Gold prices moved higher on Tuesday after experiencing steep losses over the past few sessions, as buying interest returned to global markets, according to reports.
Spot gold climbed more than 5.7% by 0755 GMT, rising to $4,926.4 per ounce after sharp declines recorded on Friday and Monday. The precious metal had slipped below the $4,500 mark a day earlier following an announcement by US President Donald Trump that former Federal Reserve governor Kevin Warsh would be his choice for the next chair of the central bank.
Silver also recovered strongly during the session, gaining 9.3% to trade at $86.6 per ounce, as stated by reports.
Spot gold climbed more than 5.7% by 0755 GMT, rising to $4,926.4 per ounce after sharp declines recorded on Friday and Monday. The precious metal had slipped below the $4,500 mark a day earlier following an announcement by US President Donald Trump that former Federal Reserve governor Kevin Warsh would be his choice for the next chair of the central bank.
Silver also recovered strongly during the session, gaining 9.3% to trade at $86.6 per ounce, as stated by reports.
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