US EditionStocks Fall, Gold Rallies On Best Day Since 2008: What's Moving Markets Tuesday?
Spot gold rose about 5%, silver surged over 9%, marking their largest daily gains since 2008 as bargain-hunting followed a two-day selloff triggered by Fed nomination and margin hikes.
- 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.
24 Articles
24 Articles
Gold and silver have a strong rebound after historical falls, while the dollar, rates and politics maintain market volatility
Gold swings back with record same-day gains
Gold and silver prices rebounded sharply yesterday after a steep sell-off over the previous two sessions and the bullion was on track for its biggest daily rise since November 2008 as bargain-hunters stepped in amid resilient underlying fundamentals.
Gold climbs back near $5,100 as US-Iran tensions flare
Gold prices surged near $5,100 on Wednesday, driven by safe-haven demand amid renewed U.S.-Iran geopolitical tensions. This rebound followed a significant 5.9% gain on Tuesday, its largest daily increase since November 2008. Analysts anticipate continued price rises, with some forecasting year-end targets of $6,000/oz.
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…
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