Precious metals prices have rebounded strongly after a fall of nearly 10% for gold on Friday, and a 30% collapse in silver prices that marked the metal's worst one-day performance since 1980.

U.S. stocks are drifting in mixed trading on Wednesday, while gold’s price stabilized further and climbed back above $5,000 per ounce. The S&P 500 edged down by 0.1%, coming off its fourth modest drop in the last five days.