Gold Moves in Choppy Trading

2026-02-06 01:17 By Kyrie Dichosa 1 min. read

Gold rose to around $4,870 per ounce on Friday, reversing earlier losses as markets navigated heightened volatility.

The swings that began late last week continued, wiping out most of its year-to-date gains, weighed by selling pressure after the metal repeatedly hit record highs in January.

Meanwhile, US job cuts reached 108.4K in January, the highest for the month since 2009, while initial claims rose to 231K and ADP payrolls missed forecasts.

The string of weaker labor data reinforced expectations for Federal Reserve rate cuts later this year, with markets eyeing a first move in June.

On the geopolitical front, the White House emphasized that President Donald Trump prefers a diplomatic solution with Iran, signaling patience for high-level negotiations while keeping military options as a contingency.

Over the week, gold remained on track for its second consecutive weekly loss.



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