After two days of sharp decline in gold, it rebounded strongly. Analysts: Current price returns to a reasonable range.

After experiencing two consecutive days of sharp declines, gold rebounded strongly and is expected to achieve its largest single-day increase since 2008 on Tuesday. Silver also rose in tandem, with precious metals launching a counterattack after experiencing the most intense two-day decline in decades. Analysts believe that this bull market for precious metals is expected to continue, and that later this year, they will reach historic new highs. Kyle Rodda, Senior Market Analyst at Capital.com, said, "Considering the fairly irrational market performance in recent weeks, current prices can be considered to have returned to a relatively reasonable range. Current prices have basically returned to levels seen in mid-January." The nomination of Powell by Trump as the next Chairman of the Federal Reserve sparked a sharp sell-off in the precious metals market. Rodda added, "The market's reaction to Trump's nomination of Powell is viewed as a relatively reliable choice, which is why the US dollar strengthened, somewhat like popping the previous bubble in precious metals."