New Delhi, May 18 -- Precious metals recovered smartly from the day's lows in Monday's trade on May 18 as bond yields stabilised after hitting multi-year highs last week, although gains remained capped amid rising fears of persistent inflation.

COMEX gold futures rebounded by $27 per troy ounce to an intraday high of $4,588. Meanwhile, silver futures also recovered $1.08 to $78.62 per ounce after falling to an intraday low of $74.11. Over the last two trading sessions, the white metal was down by 15%.

In the Middle East, tensions remained elevated after US President Donald Trump said Iran needed to "get moving" or there "won't be anything left." Both countries continue to hold negotiations aimed at ending the conflict, although Iranian ...