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Gold hit $5,594 then fell 10% as US Treasury chief flags China’s speculative trading; analysts warn leverage and ETF surge may signal bubble risk.
Markets will also watch the Supreme Court’s ruling on Trump tariffs scheduled for February 20. The week ahead will be holiday-shortened with potentially thinner liquidity.
Gold surged to a record above $5,595 in late January as a wave of speculative buying pushed the rally to a breaking point, before a rapid rout at the end of the month that pulled it back below $5,000 an ounce.
A general licence authorises the purchase, exportation, and sale of Venezuelan-origin oil that has already been extracted, including the refining of such oil
The US Trade Representative’s Office is scrambling to resolve complications spawned last year by the Commerce Department’s efforts to rush out President Donald Trump’s tariff agenda
Spot gold was up 0.6% at $4,949.99 per ounce as of 0626 GMT, but has lost 0.2% so far this week. U.S. gold futures for April delivery climbed 0.4% to $4,968.0 per ounce
Aluminum fell 1.3% to $3,058.50 a ton on the London Metal Exchange as of 1:45 p.m. in Shanghai
Gold's meteoric rise has triggered a crisis across India's jewellery industry, with small retailers haemorrhaging sales while organized chains thrive amid the turmoil
Refiners have been urged to prioritize US grades when they seek oil from the spot market via tenders, said refinery executives familiar with the matter.
Bullion climbed as much as 0.6% after closing lower on Tuesday
The recent volatility in silver prices and leveraged positions have led to some investors lowering their exposure. Retail investors should evaluate their own positions
The metal has declined about 10% since hitting its all-time peak on Jan. 29, but is still firmly higher this year.
A dramatic unwind which recently hit gold and silver markets recently, erased a significant of their record breaking January gains last week.
Despite a week of choppy trading since the historic rout, gold has recovered around half of its losses.
Except for March and May, every month of 2025 recorded net inflows into gold ETFs. Total inflows for 2025 stood at $4.68 billion, a rise of 262 percent from $1.29 billion in 2024.
Following a string of labour market reports that largely surprised to the downside, attention now turns to the official non-farm payrolls report due February 11 as significant downward revisions could strengthen the case for future rate cuts.
Silver commands a market capitalisation of $4.177 trillion, and is behind Nvidia's $4.184 trillion.
A dramatic unwind which hit gold and silver markets recently has erased a chunk of their record breaking January gains.
Spot silver tumbled to as low as $64 an ounce in early Asian trading
IBJA pegged the price of silver at Rs 2,52,232 per 1 kilogram at its 12:30 pm rate session on February 5, a decline of nearly 9.64 percent in a day.
This came after gold and silver prices were rebounding for the last two sessions following a sharp slump earlier.
The US Nonfarm Payrolls report won’t be released this Friday, but Wednesday’s ADP private-sector jobs data will provide key clues on labour market strength, analysts say.
At Wednesday’s close, the metal was down 11% from an all-time high hit on Jan. 29 but was still up 15% for the year. Silver also advanced, crossing $90 an ounce.
Despite the ongoing rebound, gold and silver, along with their respective ETFs are yet to scale back to their lifetime highs which they hit in late January this year.
Spot gold climbed as much as 4.2% to over $4,855 an ounce, after falling 4.8% in the previous session
