ISTANBUL

Gold prices rose on Tuesday following a period of significant selling pressure in global markets.

Spot gold increased over 5.7% as of 0755GMT to reach $4,926.4 per ounce after posting sharp declines on Friday and Monday.

On Monday, gold saw below $4,500 level, after US President Donald Trump announced that he has picked former Federal Reserve governor Kevin Warsh as his nominee for the next Fed chair.

Silver prices also regained, up 9.3% to $86.6 per ounce.