Gold prices have experienced a significant rebound, marking the largest daily rise since November 2008, as reported by The News Pakistan. This surge follows a steep two-day slump, which was the most severe in decades. Spot gold prices increased by over 4%, while silver rose by 6%, according to The Hindu. The sharp recovery in precious metals is attributed to investors seeking safe-haven assets amidst geopolitical tensions, such as the recent incident where the US downed an Iranian drone, as highlighted by BBC News. This geopolitical event has contributed to the volatility in precious metal prices, pushing gold above $5,000.