New Delhi, Feb. 3 -- Gold and silver prices resumed their bull-run on Tuesday, February 3, recovering part of its recent losses after a sharp reversal from a record-setting downward trajectory.

Spot gold surged as much as 4% to $4,830 an ounce, meanwhile, spot silver also climbed nearly 8% to $82.74, on Tuesday.

Spot gold prices tumbled almost 10% on January 30, marking their sharpest decline since 1983. The drop pushed prices below the landmark $5,000 per ounce level reached just days earlier and erased a large portion of the year's gains. Silver plunged even worse, falling 27% in the same session-its steepest single-day fall on record.

In the past two trading sessions, gold has slided over 13%, while silver has slumped nearly 34%, in...