New Delhi, Feb. 10 -- Gold and silver prices snapped a two-day rising streak, fell nearly 2% on Tuesday, February 10, amid profit-booking in the choppy market.

Spot gold was down 0.70% to $5,040 per ounce, meanwhile, spot silver fell 1.94% to $80.33 per ounce, during the Asian trading hours on Tuesday.

Gold prices have declined by over 11.27% from their record high level of $5,608.25 on January 29. On the other hand, silver prices have plunged around 50% from their all-time high of $121.64.

Both precious metals slumped after a record-breaking rally, driven by speculative activity, pushed markets into overheated territory. Still, the key forces that supported the multiyear uptrend-rising geopolitical tensions, strong central-bank purcha...