(Updates prices, adds context for Asia mid-session trade)

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Spot gold jumps over 4%, silver rises 6%

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Gold, silver fell to one-month lows on Monday

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Gold's bull run seen intact despite steep pullback-

analysts

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No employment report on Friday due to partial US

government

shutdown

By Ishaan Arora

Feb 3 (Reuters) - Gold and silver rose on Tuesday,

rebounding from ‌their steepest two-day drop in decades after

Kevin Warsh was nominated as the next U.S. Federal Reserve chair

and a ​hike in CME margin requirements put the brakes on the

metals' record rally.

Spot gold climbed ‍4.1% to $4,854.56 an ounce by 0623 GMT.

On Monday, it had ⁠hit a low of $4,403.24 ⁠an ounce, two sessions

after peaking at $5,594.82.

U.S. gold futures for April delivery rose 4.8% to

$4,838.10 per ounce.

"It's a reasonable ‌call that this is somewhere around fair

value ​potentially, if you consider that we saw a market behaving

fairly irrationally for a few weeks there," said Kyle Rodda, a

senior market analyst at ⁠Capital.com.

"The current prices take gold and silver ‍back to ​where they

were, early in the second half of January."

Gold's parabolic rise saw it smash multiple peaks and log a

nearly 13% gain in January, its biggest ‍monthly gain since

November 2009, while silver touched an all-time high of

$121.64 on Thursday.

Silver gained 6.2% to $84.34 an ounce on Tuesday, after

posting its biggest one-day loss on record on Friday with a 27%

slump. It fell by another 6% in the last session and hit a low

of $71.33 an ounce.

"The markets endorsed Warsh's nomination by U.S. President

Donald Trump ​as someone ‍relatively credible, and so we saw the

dollar move on that basis, and again, that was kind of like the

pin that popped the big precious ​metals," Rodda said.

CME Group ( CME ) also raised margin requirements on precious

metal futures, fuelling last week's sharp selloff that was

triggered after Kevin Warsh's nomination to head the central

bank.

Despite the historic pullback in gold and silver prices,

analysts see the metals' bull run continuing and expect it to

notch fresh record highs later this year.

Meanwhile, the U.S. Bureau of Labor Statistics said on Monday

the closely watched employment report ​for January would not be

released this Friday because of a partial shutdown of the

federal government.

In other metals, spot platinum climbed 2.9% to

$2,183.38 per ounce after hitting a record high of $2,918.80 on

January 26, while palladium ‍was up 2.8% at $1,766.02.

(Reporting by Ishaan Arora and Swati Verma in Bengaluru; Editing

by Subhranshu Sahu)