New Delhi, Feb. 5 -- Gold and silver prices witnessed a sharp reversal on Thursday, February 5, after rising up to 6% in the early morning trade.

Spot gold tumbled more than 2% to around the $4,800 mark, while spot silver plunged nearly 9% to $76 an ounce after having jumped 6% to nearly $90 earlier on Thursday.

At Wednesday's close, gold prices were about 11% below the all-time high reached on January 29, though the metal remained up 15% for the year. Silver prices also moved higher.

On the geopolitical front, Iran and the United States are scheduled to hold talks on Friday. Meanwhile, US President Donald Trump held extensive discussions with Chinese President Xi Jinping ahead of an anticipated visit to China in April, following Xi's ...