New Delhi, Feb. 8 -- Although precious metals witnessed a sharp rebound on Friday, February 7, but are still far away from their record high levels.

MCX gold price is nearly 23% down from the record high price of Rs.1,93,096 touched on January 29. On the other hand, MCX silver price is 40% below the all-time high of Rs.4,20,048 per kg.

On Friday, MCX gold April futures surged more than 2% to Rs.1,55,374 per 10 grams, while MCX silver March futures climbed nearly 3% to Rs.2,50,300 per kg, supported by short covering and fresh hedging activity amid global uncertainty.

Meanwhile, in the international market, spot gold climbed 3.9% to $4,954.92 per ounce, recovering losses from a choppy Asian trading session after plunging 3.9% on Thursday...