Gold and silver rally, after 13% fall over two sessions for yellow metal

Dow Jones02-03 18:38

MW Gold and silver rally, after 13% fall over two sessions for yellow metal

By Steve Goldstein

Gold futures rose on Tuesday after two days of selling.

Gold and silver rose for the first time in two sessions after last week's record-setting shakeout.

After Friday's plunge in its worst day in 46 years and another 1.9% retreat on Monday that left gold down 13% over two sessions, the lead contract (GC00) rose 6% to $4943.4 an ounce.

Silver (SI00), also down the last two sessions, gained 13% to $86.67 an ounce.

Platinum (PL00) and palladium (PA00) also advanced.

"The sharp sell-off in gold over the past few days has encouraged investors to buy on the dip, scooping up the precious metal in their droves and making it sparkle again," said Russ Mould, investment director at U.K. adviser AJ Bell.

"Gold has delivered such strong rewards to investors over the past year that many people will have treated the recent sell-off as a New Year's sale, a chance to grab more metal at a discounted price. Gold bugs have doubled down rather than run for the hills.

Related: During the worst day for gold in 46 years, options traders made bets the metal could hit $20,000

-Steve Goldstein

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February 03, 2026 05:38 ET (10:38 GMT)

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