Gold bugs and silver bulls had a lot to cheer about this year ... until last week. The surprise decision by President Donald Trump to nominate inflation hawk Kevin Warsh as the next Federal Reserve chairman sparked a rally in the U.S. dollar, putting the kibosh on the gold and silver rally. 

Gold surged 6% to $4,930 and silver jumped 12% after a two-day crash triggered by Kevin Warsh's Federal Reserve chair nomination by President Trump.

Gold rose 5.5% to $4 915.29 an ounce at 3:51 p.m. in Singapore.

Gold and silver rebound over 2% after a sharp selloff, with analysts affirming gold’s bull run remains intact.

Silver dives 30% to $83, and gold falls 10% to $4,700 as margin hikes and a stronger dollar trigger historic metals volatility.

London stocks were set for a flat open on Tuesday, having closed at a record high in the previous session, as gold and silver prices recovered from their recent heavy selloff.