Gold spots rebounded in early Asian trading on Tuesday, recovering some of their losses after a sudden reversal of record gains, leading to a sharp drop in gold prices of 13% in two days. Spot silver also rebounded. Spot gold rose about 1.6% and recovered above $4,700; it fell nearly 5% on Monday, continuing its biggest decline in more than a decade since last Friday. Spot silver rose 2.6% to break above $81 an ounce; after hitting a record high last Friday, it fell another 7% on Monday. Last month, as geopolitical turmoil, currency depreciation, and concerns about the Federal Reserve's independence resurfaced, investors flocked to buy gold and silver, which suddenly accelerated the already hot rise.

Gold spots rebounded in early Asian trading on Tuesday, recovering some of their losses after a sudden reversal of record gains, leading to a sharp drop in gold prices of 13% in two days. Spot silver also rebounded. Spot gold rose about 1.6% and recovered above $4,700; it fell nearly 5% on Monday, continuing its biggest decline in more than a decade since last Friday. Spot silver rose 2.6% to break above $81 an ounce; after hitting a record high last Friday, it fell another 7% on Monday. Last month, as geopolitical turmoil, currency depreciation, and concerns about the Federal Reserve's independence resurfaced, investors flocked to buy gold and silver, which suddenly accelerated the already hot rise.