Gold Rebounds More Than 2% After Recent Sell-Off

By News Desk on February 3, 2026

Gold

Gold Rebounds Sharply; Silver and Platinum Advance

Singapore: Gold prices rose more than 2 percent today, rebounding from a sharp sell-off triggered by market reaction to the nomination of Kevin Warsh to head the US Federal Reserve.

Spot gold climbed 2.2 percent to USD 4,767.33 per ounce, after falling in the previous session to its lowest level in nearly a month. The precious metal had touched a record high of USD 5,594.82 per ounce last Thursday.

Meanwhile, US gold futures for April delivery advanced 3 percent to USD 4,791.10 per ounce.

Gold posted strong gains in January, rising nearly 13 percent, marking its largest monthly increase since November 2009, while silver surged 19 percent over the same period.

Among other precious metals, spot silver rose 2.8 percent to USD 81.61 per ounce, after hitting an all-time high of USD 121.64 last Thursday.

Spot platinum gained 0.6 percent to USD 2,134.10 per ounce, after reaching a record high of USD 2,918.80 on 27 January 2026, while palladium slipped 0.5 percent to USD 1,711 per ounce.

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