Gold slips from one-week high

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.

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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.

The Star