Gold futures continued their impressive rally on Tuesday, with front month Comex gold for February delivery surging $67.80 per troy ounce to settle at $5,071.60, marking a 1.35% gain. The precious metal has demonstrated strong momentum in recent sessions, rising in five of the past seven trading days, though prices trimmed earlier gains following the release of January's employment data.

Gold fell by $34 per ounce on Tuesday, closing at $5,023 still near a two-week high as recent US economic indicators reinforced expectations for Federal Reserve policy accommodation.

Gold and silver broke back above the key levels we had spoke about on Friday as being critical to avoid being trapped in a range and experiencing another pullback. That level in gold was $5,000 which gold traded above today after opening at $4,989. Spot gold is currently showing a gain of around $100 or 2% at around $5,063 at the time of writing.

Gold demonstrated resilience this week, recovering from recent losses to post a $175 gain—a 3.63% increase—bringing prices to just below the psychologically significant $5,000 threshold. Despite this recovery, the yellow metal remains approximately $660, or 11.82%, below the record high established last week.

Precious metals continued their sharp retreat today, with both gold and silver failing to reclaim critical technical levels that had previously served as support, triggering further liquidation in an already fragile market environment.

Gold futures demonstrated notable resilience during Wednesday's trading session, reclaiming the psychologically significant $5,000 per ounce threshold in early trading following last week's dramatic selloff. The yellow metal advanced approximately 3% to reach $5,070 per ounce, while silver exhibited even stronger momentum, surging 8–10% toward the $90 per ounce level.

Gold's dramatic reversal today showcased the resilience of precious metals markets after a brutal two-day selloff. Following Friday's sharp decline—which sent gold futures to an intraday low of $4,423 before recovering to close at $4,907, representing a loss of $503 or 9.3%—selling pressure persisted into Tuesday, taking prices back to $4,423.

Gold and silver prices continued their retreat today, extending Friday's dramatic selloff and raising questions about whether precious metals have entered a correction within a broader bull market or if the rally has reached its peak.

There's a lady who's sure all that glitters is gold and she's buying a stairway to Heaven
 -Led Zepplin

 Gold and silver dropped sharply on Friday with analyst siting that markets reacted to the news that President Donald Trump had selected Kevin Warsh to replace Jerome Powell as head of the Federal Reserve. However, that is only partially true.

Today’s astounding movement in Gold has traders either shaken out of their positions from the extreme low or too rattled by the volatility to buy into gold futures as it officially rolled over and switched contract months from the February (GCG2026) to April (GCJ2026).