Gold Surges Over 6%

2026-02-03 14:04 By Joana Ferreira 1 min. read

Gold surged more than 5% to around $4,920 per ounce on Tuesday, on track for its biggest daily gain since November 2008, as prices rebounded sharply from the steepest two-day decline in decades.

Bullion had slid to as low as $4,405 on Monday, as investors locked in profits after a powerful rally that pushed prices to a record above $5,600 on Thursday.

The move followed President Trump’s nomination of former Federal Reserve governor Kevin Warsh as the next Fed Chair, a pick seen as more hawkish than other contenders.

While investors still expect Warsh to ultimately support rate cuts, they also anticipate a tighter approach to balance-sheet policy.

Meanwhile, the US BLS said on Monday that its closely watched January nonfarm payrolls report will be delayed due to a partial federal government shutdown.

Geopolitical developments also remained in focus, with US-Iran talks scheduled for Friday and Ukraine preparing for renewed peace negotiations after fresh Russian strikes.



News Stream
Gold Trims Gains as Markets Weigh US Data and Fed Outlook
Gold pared earlier gains on Wednesday to trade just under the $5,000 mark, as investors assessed fresh US economic data and its implications for the Federal Reserve’s policy path, particularly after President Trump nominated Kevin Warsh as the next Fed chair. With key labor-market releases delayed this week, attention turned to the ADP report, which showed private payroll growth undershooting expectations, while a stronger-than-forecast ISM services PMI pointed to resilient activity in the sector. Bullion had surged more than 6% in the prior session, its biggest daily jump since 2008, after dip buyers stepped in following a sharp pullback earlier in the week. Safe-haven demand also remained supported by geopolitical tensions after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, though the White House said US-Iran talks are still scheduled for Friday.
2026-02-04
Gold Extends Gains After Biggest Rise in Over 17 Years
Gold climbed to $5,050 per ounce on Wednesday, building on a more than 6% surge in the previous session, the biggest daily gain since 2008, as dip buyers stepped in following a sharp pullback earlier in the week. Geopolitical tensions also lifted the metal’s safe-haven appeal after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, although President Donald Trump said diplomacy remains active, with the White House confirming US-Iran talks are still scheduled for Friday. Meanwhile, expectations for rapid Federal Reserve rate cuts eased after Trump nominated Kevin Warsh as Fed chair, though markets still price in two cuts this year, likely around mid-year and later in 2026. Separately, President Trump signed a bill to end the partial shutdown, but the delay of the monthly jobs report leaves no new signals on the health of the US labor market.
2026-02-04
Gold Surges Over 6%
Gold surged more than 5% to around $4,920 per ounce on Tuesday, on track for its biggest daily gain since November 2008, as prices rebounded sharply from the steepest two-day decline in decades. Bullion had slid to as low as $4,405 on Monday, as investors locked in profits after a powerful rally that pushed prices to a record above $5,600 on Thursday. The move followed President Trump’s nomination of former Federal Reserve governor Kevin Warsh as the next Fed Chair, a pick seen as more hawkish than other contenders. While investors still expect Warsh to ultimately support rate cuts, they also anticipate a tighter approach to balance-sheet policy. Meanwhile, the US BLS said on Monday that its closely watched January nonfarm payrolls report will be delayed due to a partial federal government shutdown. Geopolitical developments also remained in focus, with US-Iran talks scheduled for Friday and Ukraine preparing for renewed peace negotiations after fresh Russian strikes.
2026-02-03