Gold Prices Remain Above $5,000 Amid Anticipation of U.S. Employment and Inflation Data

Despite a decline on Tuesday, gold has maintained its position above $5,000 per ounce amid cautious sentiment among investors ahead of important U.S. data on employment and inflation, which could shape future interest rate decisions.

As of the latest spot transactions, gold fell by 0.7% to $5,029.49 per ounce, following a 2% increase on Monday, bolstered by a drop in the dollar to its lowest level in over a week.

It is noteworthy that the precious metal reached a record high of $5,594.82 per ounce on January 29, according to "Reuters".

U.S. April futures also decreased by 0.5% to $5,052 per ounce.

In contrast, silver dropped by 2.1% in spot trading to $81.64, after a significant rise of approximately 7% in the previous session, with silver having reached its all-time high of $121.64 on January 29.

In analytical remarks, the global economic head at Tasty Live, Ilia Spivak, stated:

"The Cold War and economic competition between the U.S. and China are unlikely to end for years... This provides a clear bullish advantage for gold."

On the other hand, White House economic advisor Kevin Hassett indicated that U.S. job gains may slow in the coming months due to slow labor force growth and rising productivity, which could affect Federal Reserve decisions.

Investors anticipate at least two rate cuts of 25 basis points during 2026, with the first expected in June, which tends to support gold prices that do not yield returns.

In light of the economic data expected this week, the market is looking forward to December retail sales, the Consumer Price Index, and the January non-farm payroll report.

Regarding other metals, platinum fell by 2.1% to $2,084.09 per ounce, while palladium decreased by 1.7% to $1,710.75.