Gold slid on Wednesday, January 7, 2026, as investors booked profits after prices briefly hit a more than one-week high earlier in the session.
Spot gold slipped 1.1% to $4,449.38 per ounce, as of 0715 GMT. It touched a record high of $4,549.71 last Monday.
United States gold futures for February delivery were 0.8% lower at $4,460.50.
Prices are not being influenced “that much from a fundamental perspective, there’s a lot of speculation… price action has for the most part been skewed to the upside, but it’s showing two-way volatility,” Capital.com senior financial markets analyst Kyle Rodda said.
Oil prices drop as investors weigh supply outlook
He added that the U.S. dollar was also playing a role in depressing prices.
The dollar held near a more than two-week high, making greenback-priced assets more expensive for other currency holders, according to Reuters.
Investors expect at least two interest rate cuts by the Federal Reserve this year, while they look to U.S. non-farm payroll data on Friday for more clues.
The JOLTS survey and ADP private payrolls data on Wednesday may also set the market tone.
- EPL: Bournemouth whip Man United at Old Trafford to leave Carrick on brink - October 25, 2026
- Giving back to alma mater: The Wale Babalakin, Debo Olujimi exemplars, by Sufuyan Ojeifo - October 25, 2026
- IGP proposes 200% gratuity, pension for retired police officers - October 25, 2026
