Gold and silver prices rebound after sharp plunge; gold closes at $4,935 per ounce

[Financial News] Gold and silver prices, which had plunged for two consecutive trading days, rebounded on the 3rd (local time).
Foreign media including The Associated Press (AP) reported that gold rose 6.1% to close at $4,935 per ounce (31.1 g), while silver climbed 8.2%, recovering its earlier losses.
At one point, silver was trading more than 12% higher, above $89 per ounce.
As investors have flocked to safe-haven assets, gold and silver prices have been on an upward trend for more than a year.
However, amid concerns that the rally had gone too far, gold tumbled from $5,600 to below $4,500 on the 30th of last month, while silver prices plunged 31.4% on the same day.

jjyoon@fnnews.com Yoon Jae-jun Reporter