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What's going on with the price of gold?

What's going on with the price of gold?

[Gold Newsletter #301] Gold Price: $4,861.91 News: Gold and silver prices soared, then plummeted. What’s going on? Central banks buy 19t of gold in December to total 328t in 2025, is China building gold-backed digital assets? Gold price forecasts: $4,000 to $6,300

February 05, 2026

A summary of the most important gold news and analysis of the last week.

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Gold price

Gold price: $4,861.91 $XAUUSD ( 0.0% ) [View live gold price.]

Change from last week: -$297.19 (-5.76%)

Gold news

This week’s summary of gold news and analysis.

• What's going on with the price of gold? [BBC]

"Last week, the yellow metal touched a record high above $5,500 an ounce, following a year in which its value has soared.

But on Friday, the gold price plummeted more than 9%, its sharpest one-day drop since 1983, before a further decline on Monday."

• Gold and silver prices soared, then plummeted. What’s going on? [Al Jazeera]

"Analysts see various factors at play for price swings, from Trump’s unpredictability to distrust in economic systems."

• Silver and gold moves a correction and bull case not broken, says UBS [Proactive]

• Gold and silver price plummets don’t worry analysts—here’s why [Forbes]

• Central banks buy 19t of gold in December to total 328t in 2025, averaging 27t/m – World Gold Council [Kitco]

• We’ve been here before: What gold’s past bull runs — and sell-offs — tell us about where it could go next [CNBC]

• How can Africa cash in on the gold rush? [DW]

"Soaring gold prices have sent African nations that produce the precious metal scrambling to capitalize on the surge. But can they adjust quickly enough?"

🔮 Gold price forecasts

• Gold could slide to $4,000 as parabolic rally signals peak - BI’s McGlone [Kitco]

• JPMorgan sees gold price reaching $6,300 by year-end [Mining]

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🌐 World gold news

Gold news from a global perspective.

"Uncertainty spreads in Shuibei as second platform falters, spooking investors."

• How a gold trading platform’s collapse sparked rare protests in Shenzhen [CNA]

"The downfall of Jieworui has shone a spotlight on shadow markets that have gained traction amid volatile prices."

🇬🇭 Ghana

• Ghana takes control of its gold as local refining operation begins [PHOTOS] [Business Insider Africa]

🇮🇳 India

• India eases duty on gold jewellery, expands passenger baggage allowance [Khaleej Times]

🇮🇱 Israel

• Bank of Israel pushes back against politicians’ calls to buy gold [Central Banking]

🇲🇳 Mongolia

• Mongolia's central bank buys 1.9 tonnes of gold in January [Xinhua]

🇸🇬 Singapore

• Singaporeans are queueing up to buy gold despite rout (archive) [Bloomberg]

"People were still queuing up to buy gold in Singapore on Monday even as prices plummeted, showing the extraordinary resilience in retail demand for precious metals."