Global gold prices are showing signs of stabilization after one of the sharpest retreats in history, which occurred in late January 2026. Investors began actively buying assets on the dip, allowing the metal to recover some of its losses and consolidate above the psychological mark of $4900 per ounce. This is reported by Bloomberg, writes UNN.
Details
Last week, the precious metals market experienced a real shock: gold recorded its largest daily drop since 2013, and silver – its worst result since 1980. The price of bullion fell by 12% from its historical high of $5608, reached on January 29. However, on Tuesday, February 3, a powerful rebound was observed: prices rose by more than 6%, as a weakening US dollar and geopolitical tensions in the Middle East once again made gold an attractive "safe haven."
Many traders tried to buy assets on the dip, betting on a recovery. As gold stabilized after a sharp retreat, we are seeing a return of interest from both institutional investors and retail buyers.
Factors and forecasts for 2026
The main market drivers remain concerns about the independence of the US Federal Reserve under the Donald Trump administration and high demand from central banks. Despite the recent correction, gold has risen by almost 15% since the beginning of the year. The Bloomberg Spot Dollar Index fell by 0.3%, which further supported the value of metals denominated in the American currency.
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As of Wednesday morning, gold is trading around $4929 per ounce. Although the market remains volatile, leading banks such as JP Morgan and UBS maintain optimistic forecasts, expecting growth to $6000 by the end of the year.
Experts emphasize that the current decline was more of a "technical unloading" after too rapid a rally, rather than the beginning of a long-term bear trend.
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