Gold Falls 1.5% on Firm Dollar

Gold Falls 1.5% on Firm DollarSingapore, 2 Feb 2026 (ONA) — Gold today extended falls, pressured by a firm dollar, as ‍investors gauged US President Donald Trump’s Fed chair pick Kevin Warsh’s approach to interest ⁠rate cuts. Spot gold was down 1.5% at $4,793.97 per ounce, after touching ‌a more ‌than one-week low on Friday. Bullion scaled a record high of $5,594.82 on Thursday. US gold futures ‌for February delivery climbed 1.6% to $4,818.10 per ounce. Spot silver rose 1.6% to $85.98 an ounce. It hit a record high of $121.64 on Thursday. Spot platinum lost 2% to $2,120.05 per ounce after hitting a record $2,918.80 on Jan. 26, while palladium shed 0.9% to $1,682.59.— Ends/Khalid