09.02.2026 07:50
Gold prices started the week strong as the dollar fell to its lowest level since February 4. On Monday, gold traded just above the $5,000 per ounce level. Spot gold rose by 1.3% to $5,026.04, while gold per gram began the new week with a 1.3% increase, reaching 7,030 lira. Silver continued its rise after reaching a record high.
Gold prices started the week strongly with the weakening of the dollar. Investors are focused on the critical US employment data to be released this week.
EXCEEDED 5 THOUSAND DOLLARS LEVEL
On Monday, gold traded just above the 5 thousand dollars per ounce level. Spot gold rose by 1.3% to $5,026.04 after a sharp increase of about 4% on Friday. April futures for US gold increased by 1.4%, reaching $5,046.10.
GRAM GOLD AT 7 THOUSAND 30 LIRA LEVELS
Following the rise in gold prices, the upward movement in gram gold prices continues. Gram gold started the new week with a 1.3% increase at the level of 7,030 lira.
KCM Chief Analyst Tim Waterer stated, "Gold is showing an upward movement today, but there is cautious progress due to the critical employment data to be released during the week. The decline of the dollar and bottom fishing have pushed gold back above $5,000."
DOLLAR DECLINED, GOLD BECAME ATTRACTIVE
The US dollar fell to its lowest level since February 4. This situation made gold and other precious metals priced in dollars more attractive to foreign investors.
SILVER CONTINUED ITS RISE AFTER RECORD
Spot silver rose by 4.3% to $81.11 per ounce after an increase of nearly 10% in the previous session. Silver had reached an all-time high of $121.64 on January 29. The price of spot platinum fell by 0.2% to $2,091.54, while palladium rose by 1% to $1,723.37.
MESSAGE OF INTEREST RATE CUT FROM FED
San Francisco Fed President Mary Daly stated on Friday that one or two more interest rate cuts may be necessary to balance the weakness in the labor market. Markets expect at least two 25 basis point rate cuts within 2026, with the first cut anticipated in June. Gold, which does not yield interest, generally performs better in low-interest environments. Waterer said, "Any weakness seen in employment data could support gold's recovery efforts. We do not expect a rate cut from the Fed before mid-year unless the data deteriorates significantly."
EYES ON NON-FARM PAYROLL DATA
Investors are waiting for the US non-farm payroll data for January, which will be released on Wednesday, to get clearer signals about the Fed's monetary policy. This data had been postponed due to the four-day partial government shutdown that occurred last week.
On the other hand, Iranian Foreign Minister Abbas Araghchi stated that recognizing Iran's right to uranium enrichment is crucial for the success of nuclear negotiations with the US. US and Iranian diplomats held indirect talks in Oman on Friday, amid the increasing naval presence of the US near Iran.