Gold Prices Surge Over 2% as Investor Demand Strengthens

By News Desk on February 5, 2026

Singapore: Gold prices surged by more than 2 percent today, extending their strongest performance since 2008, supported by robust investor demand and a weaker US dollar.

Spot gold rose 2.2 percent to $5,044.74 an ounce, after jumping 5.9 percent in the previous session—its largest single-day gain since November 2008. The precious metal had reached a record high of $5,594.82 last Thursday.

US gold futures for April delivery climbed 2.7 percent to $5,067.00 an ounce.

Other precious metals also recorded strong gains. Spot silver advanced 2.1 percent to $86.92 an ounce, after touching a record high of $121.64 last Thursday.

Spot platinum gained 2.3 percent to $2,260.50 an ounce, having reached an all-time high of $2,918.80 on 26 January, while palladium rose nearly 3 percent to $1,782.85 an ounce.

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