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    • Gold Drops Nearly 2% as Dollar Hits Two-Week High

    By on February 5, 2026
    Gold
    Gold

    Singapore: Gold and silver prices fell sharply today amid a broader market sell-off, as heightened tensions weighed on precious metals while the US dollar advanced to a near two-week high.

    Spot gold declined 1.7 percent to $4,876.12 per ounce, retreating from a near one-week high recorded earlier in the session. US gold futures for April delivery slipped 1.1 percent to $4,896.30 per ounce.

    Spot platinum plunged 7.7 percent to $2,056.64 per ounce, after having reached an all-time high of $2,918.80 on January 26, 2026, while palladium fell by nearly 5 percent to $1,689.25 per ounce.

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