NEW YORK: Gold prices recovered on Wednesday following a sharp decline in the previous trading session, while silver and palladium also recorded gains in the global market.
According to the latest market data, spot gold rose 0.3% to $4,043.62 per ounce by 3:03 a.m. Greenwich Mean Time (GMT) on Wednesday.
Meanwhile, US gold futures for December delivery gained 0.5%, reaching $4,051.10 per ounce.
Silver and Palladium Prices Also Rise
Other precious metals also moved higher alongside gold, recording gains during Wednesday’s trading session.
Market data showed that spot silver climbed 1.7% to $52.38 per ounce, while palladium advanced 1.3% to $1,038.38 per ounce.
The gains marked a positive session for all three precious metals, with gold, silver and palladium posting increases in their respective prices.
It is worth noting that gold had suffered a significant decline of nearly 3% on Tuesday, with its price falling to $4,017.21 per ounce.