Gold, Silver Prices Today Live Updates: Gold, silver rates rebound after crash; will the rally sustain?

Precious

metals prices bounced back sharply on Tuesday, with gold and silver gaining over 2 percent after suffering steep losses in the previous session.

The earlier decline was driven by the nomination of Kevin Warsh as the next chair of the US Federal Reserve and a hike in margin requirements by CME Group.

Spot gold rose 2.2 percent to $4,767.33 an ounce by 0318 GMT, recovering from a near one-month low touched on Monday.

The metal had surged to an all-time high of $5,594.82 last Thursday.

U.S.

gold futures for April delivery climbed 3 percent to $4,791.10 an ounce.

Spot silver advanced 2.8 percent to $81.61 an ounce, after having touched a record high of $121.64 on Thursday.