Editor’s Note
This article describes a sharp rebound in gold and silver prices following a steep decline, driven by U.S. Federal Reserve news and speculative activity. The figures cited for gold prices are extraordinarily high and do not reflect real-world market values, which are typically quoted per troy ounce in U.S. dollars. Readers should treat the specific numerical data with caution.
Gold and silver were rebounding on Tuesday after suffering a heavy fall the previous day, driven by a nomination to the U.S. Federal Reserve and an unusual speculative movement on assets considered safe havens.
Just before 07:40, an ounce of gold was up 4.59% at $4,875.85, after having plunged the previous day to around $4,402. However, the yellow metal has moved significantly away from its all-time high of $5,598 reached on January 29.
The precious metals are regaining color after one of the “most violent reversals in recent decades,” fueled by the nomination of Kevin Warsh to the Fed and increased nervousness in the markets.
