Gold futures briefly climbed past $5,000 an ounce on Wednesday and silver rose by as much as 10% before both metals pared gains to finish below session highs.

By Noel John Feb 4 (Reuters) - Gold rose further on Wednesday, after logging its biggest daily gain in 17 years in the previous session, as investors flocked to the safe-haven asset amid fresh geopolitical tensions between the U.

Gold and silver futures: MCX gold April futures lost 1.40% as the price of 24 K gold deliverable on April 2 dropped to Rs 1,50,906.00 per 10 gram. Silver, too, lost 6% of its price in one day with the price of March deliverables of the white metal dropping to Rs 2,52,719 per kg.

Gold and silver prices dropped as increased CME ‍margin requirements added to ‍the selling pressure following last ‍week's sell-off.

Gold and silver prices fell sharply in a broader market sell-off on Thursday, as an advance in the dollar to a near two-week high and signs of easing U.S.-China trade tensions added pressure on precious metals.

The downfall of Jieworui has shone a spotlight on shadow markets that have gained traction amid volatile prices.

Gold and silver are showing tentative signs of recovery after an intense sell-off. Here's where investment banks see the metals going.