Gold poised for largest single-day increase since 2008 as investors return following selloff

Gold and Silver Prices Rebound Dramatically

On Tuesday, both gold and silver experienced significant gains, with gold on track for its largest single-day increase since November 2008. This surge came as investors returned to precious metals after a historic two-day selloff. By 12:34 GMT, spot gold had jumped 5.3% to $4,913.59 per ounce, recovering from Monday’s low of $4,403.24. Last week’s high of $5,594.82 per ounce still stands as a record. Meanwhile, U.S. gold futures for April delivery advanced 6.1% to $4,936.20 per ounce.

Silver also saw a remarkable turnaround, soaring 9% to $86.60 per ounce on Tuesday. This follows a dramatic 27% plunge on Friday—the largest one-day drop on record—and an additional 6% decline on Monday.