Khaberni - Gold and silver prices rose by more than 2% on Tuesday after a sharp sell-off triggered by the nomination of Kevin Warsh for the next chairman of the Federal Reserve (the American central bank) and an increase in margin requirements by the CME Group.
The spot gold price rose 2.2% to $4767.33 an ounce by 0318 GMT, after touching its lowest level in nearly a month in the previous session. The precious metal had reached a record high of $5594.82 last Thursday.
The U.S. gold futures for April rose 3% to $4791.10 an ounce.
