Gold and silver spot rebounded in early Asian trading on Tuesday, partially recovering lost ground after a record-breaking turnaround.

Gold rebounded in early Asian trading on Tuesday, recovering some lost ground after a sudden reversal in the record-breaking rally caused prices to plummet by 13% in just two days. Silver also rebounded. Spot gold rose by about 1.6%, climbing back above $4700; following a nearly 5% drop on Monday, it continued the largest decline in over a decade that was seen last Friday. Spot silver rose by 2.6%, breaking through $81 per ounce; after experiencing a record-breaking drop last Friday, it fell by another 7% on Monday. Last month, amid geopolitical turmoil, currency depreciation, and renewed concerns about the independence of the Federal Reserve, investors flocked to buy gold and silver, accelerating the already hot streak in prices.