Gold and silver stocks and ETFs rebounded in morning trading. Gold Fields and Anglogold Ashanti rose 3%; Harmony Gold rose 2%; Hecla Mining, Kinross, Barrick Mining, Newmont, and Eldorado rose 1%.

ProShares Ultra Silver rose 9%; iShares Silver Trust rose 4%; Endeavour Silver rose 3%; First Majestic Silver and Pan American Silver rose 2%.

Prices of gold and other precious metals rebounded from the previous session's sharp selloff on Tuesday as the focus returned to persistent global risks that have propelled bullion to its strongest annual performance in more than four decades.

Spot gold was up 1.6% at $4,398.94 an ounce by 1311 GMT. On Monday it posted its biggest daily percentage loss in more than two months in a retreat from Friday's record high of $4,549.71, which analysts blamed on profit taking.

U.S. gold futures were up 1.7% at $4,415.50.

Silver rose 5.7% to $76.34 an ounce. It hit a record high of $83.62 on Monday before logging its biggest daily drop since August 2020, with analysts at Societe Generale also pointing to a move on Friday by the CME group to raise its initial margin requirement for silver futures.