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Gold Rebounds: Will $6,000 Be Next?
7 Feb
Summary
- Gold recovered above $4,955 as the US dollar weakened.
- US-Iran nuclear talks in Oman eased immediate geopolitical fears.
- Higher margin requirements and volatility keep traders cautious.
Gold prices surged above $4,955 on Friday, February 7, 2026, recovering from earlier losses as the US dollar index dipped by 0.2%. This currency movement made gold more affordable for international buyers, stimulating demand. Bargain hunting by traders also contributed to the rebound following a sharp decline in the previous session.
The ongoing US-Iran nuclear talks, mediated by Oman, played a role in stabilizing the market by easing immediate concerns over Middle East tensions. While a breakthrough in these discussions could further support gold as a safe-haven asset, analysts note that the current rebound lacks strong momentum.
Silver prices also saw a recovery, rising 8.6% to $77.33 per ounce, although still heading for a weekly drop. Precious metals markets, however, remain highly volatile. CME Group has raised margin requirements for gold and silver futures for the third time in two weeks, aiming to mitigate risks associated with heightened volatility.
Analysts suggest that without significant geopolitical escalation or worsening economic conditions, gold may struggle to break past recent highs and head towards the $6,000 level. Instead, prices could trade within a range as traders and investors monitor currency fluctuations and international developments closely.
