Mumbai, Dec 30 || Precious metals showed signs of reversal in domestic market on Tuesday after it retreated sharply, with gold and silver falling from record highs in the earlier session.
MCX gold February futures rose 0.59 per cent to Rs 1,35,744 per 10 grams, while MCX silver March futures jumped 4.08 per cent to Rs 2,33,700 per kg.
In global markets, spot gold fell 4.5 per cent on Monday to $4,330.79 an ounce, while US gold futures for February delivery settled 4.6 per cent lower at $4,343.60.
The pullback followed an early surge that saw gold touch $4,584 per troy ounce and silver climbed to $82.67 per ounce before both metals failed to hold gains. Analysts attributed the retreat largely to stretched long positions, a hike in margin requirements by the Chicago Mercantile Exchange (CME) and thin holiday trading that amplified intraday swings.
Safe haven demand of the metals still holds as Russia's President Vladimir Putin told US President Donald Trump that Russia would review its position in peace negotiations after "a Ukrainian drone attack on a Russian presidential residence".