Gold at $3,919.70 while silver at $49.905 rebound in Asia
Gold and silver made a comeback in early Asian trading on Monday, November 2, clawing back some ground after last week's sharp drop.
Gold futures rose by $20.80 to $3,919.70 an ounce, while silver gained $0.629, or 1.28%, to $49.905 per ounce, thanks to ongoing market ups and downs and uncertainty around interest rates.
Investors liquidate gold and silver
Last week's price slide was partly because investors liquidated gold and silver after a big tech stock selloff in the US possibly needing cash for margin calls.
Hints of possible US Fed rate hikes made gold less attractive, since higher rates mean better returns elsewhere.
Rising oil prices are also stirring up inflation worries, which can mess with gold's usual safe-haven status.
Looking ahead, things like the upcoming US midterm elections and fresh economic data could shake up investor mood again, and might help clarify where gold and silver prices are headed next.