US EditionStocks Fall, Gold Rallies On Best Day Since 2008: Markets Today - SPDR Gold Shares (ARCA:GLD)
- On Tuesday, spot gold rose 5.1% to $4,901.75 and silver surged 9.4% to $86.92, after a steep selloff, with bargain-hunters stepping in.
- After two sessions of heavy selling, markets were pressured by margin hikes as Kevin Warsh's Fed nomination and CME Group's raised margin requirements triggered a steep two-day selloff last week.
- Silver's 27% drop on Friday and a further 6% decline on Monday preceded a rebound, with Rodda saying, 'The markets endorsed Warsh's nomination by US President Donald Trump as someone relatively credible, and so we saw the dollar move on that basis, and again, that was kind of like the pin that popped the big precious metals.'
- On Tuesday, in markets, the S&P 500 slipped 0.5% to 6,920, the Nasdaq 100 fell nearly 1.5% to 25,350, and Bitcoin slid more than 3% to around $75,000, while crude oil rose 1.8% to $63 and Chevron gained over 2%.
- Analysts broadly expect the bull market to continue with fresh record highs likely later this year after gold's nearly 13% January gain and silver hitting $121.64 on Thursday.
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Gold and Silver Prices Surge Amid Market Volatility
Gold and Silver Prices Surge Amid Market Volatility Gold and silver prices witnessed a remarkable recovery on Tuesday, bouncing back from a sharp decline experienced over the previous sessions. The bullion surged, marking its largest daily rise since November 2008, as investors seized opportunities from the resilient fundamental conditions.Spot gold climbed 5.2% to reach $4,906.82 per ounce by 01:31 p.m. ET, recovering from Monday's low of $4,40…
Gold Set for Biggest Daily Gain Since 2008 as Investors Rush Back In
Stocks Fall, Gold Rallies On Best Day Since 2008: Markets Today - SPDR Gold Shares (ARCA:GLD)
Wall Street extended losses into midday trading Tuesday as geopolitical tensions in the Middle East resurfaced, while gold staged a violent rebound after two days of historic selling.
Gold, silver stage comeback after two-session rout
Gold and silver rose today, rebounding from their steepest two-day drop in decadesafter Kevin Warsh was nominated as the next US Federal Reserve chair and a hike in CME margin requirements put the brakes on the metals' record rally.
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