Gold Recovers Again

2026-02-06 20:28 By Felipe Alarcon 1 min. read

Gold rallied over 3.5% to above $4,950 per ounce on Friday and was set for weekly gains after a week of sharp two way moves, as signs of US economic softening and lingering geopolitical uncertainty combined with the aftereffects of forced selling to drive volatility.

The rebound followed a late January liquidation wave triggered by higher margin requirements and a steep selloff in silver that spilled across precious metals, pushing prices lower before buyers re entered.

Weaker US labour data, with weekly initial jobless claims rising to 231k and announced job cuts jumping to roughly 108k in January, reinforced expectations for Federal Reserve easing later this year, lowering real yield expectations and restoring a fundamental bid for bullion.

US Iran talks in Oman described as a good start eased immediate escalation risks without removing broader uncertainty, sustaining gold’s defensive appeal, while a softer US dollar and position rebuilding further amplified the rebound.



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