Baghdad: Gold and silver prices rose by more than 2% on Tuesday, rebounding from a sharp sell-off triggered by the nomination of Kevin Warsh as Chairman of the U.S. Federal Reserve. Spot gold climbed 2.2% to $4,767.33 per ounce after hitting a near one-month low in the previous session, while U.S. gold futures for April rose 3% to $4,791.10. Gold had gained nearly 13% in January, marking its strongest monthly performance since November 2009.

According to National Iraqi News Agency, silver prices increased 2.8% to $81.61 per ounce, after reaching a record high of $121.64 last Thursday. Platinum edged up 0.6% to $2,134.10 per ounce, while palladium slipped 0.5% to $1,711.