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Gold, Silver Prices Surge After Market Slump
(MENAFN) Gold prices experienced an upward movement on Tuesday following a period of intense selling in global markets.
Spot gold climbed more than 5.7% by 0755GMT, reaching $4,926.4 per ounce, recovering from steep losses recorded on Friday and Monday.
On Monday, gold had dropped below the $4,500 mark after US President Donald Trump revealed that he had selected former Federal Reserve governor Kevin Warsh as his choice for the next Fed chair.
Meanwhile, silver prices also bounced back, rising 9.3% to $86.6 per ounce.
Spot gold climbed more than 5.7% by 0755GMT, reaching $4,926.4 per ounce, recovering from steep losses recorded on Friday and Monday.
On Monday, gold had dropped below the $4,500 mark after US President Donald Trump revealed that he had selected former Federal Reserve governor Kevin Warsh as his choice for the next Fed chair.
Meanwhile, silver prices also bounced back, rising 9.3% to $86.6 per ounce.
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