Gold Prices Rise Amid Softer Dollar and Investor Caution

Investors brace for key US economic data releases this week that could signal future interest rate moves

Published on Feb. 9, 2026

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Gold prices rose 1% to around $5,008 per ounce on Monday, supported by a weaker US dollar. Investors are closely watching upcoming US economic reports, including nonfarm payrolls, CPI, and jobless claims, which could provide clues on the trajectory of interest rates. Lower rates tend to benefit gold by reducing the opportunity cost of holding the non-yielding asset. China's central bank also extended its gold buying streak for the 15th straight month in January, reflecting a strategy to diversify reserves away from the US dollar.

Why it matters

Gold's rise reflects its role as a safe-haven asset amid economic uncertainty, as investors look to hedge against potential interest rate changes and US dollar fluctuations. The metal's performance is closely watched as an indicator of broader market sentiment and expectations around monetary policy.

The details

Spot gold rose 1% to $5,008.51 per ounce by 1141 GMT, after a 4% climb on Friday. US gold futures for April delivery also gained 1% to $5,029.40 per ounce. The US dollar fell 0.3%, making gold cheaper for overseas buyers. Investors are awaiting key US economic data releases this week, including nonfarm payrolls, CPI, and initial jobless claims, which could provide signals on future interest rate moves. Lower rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

  • Gold prices rose 1% on Monday, February 9, 2026.
  • China's central bank extended its gold buying streak for the 15th straight month in January 2026.

The players

Rania Gule

Senior market analyst at XS.com.

Mary Daly

President of the San Francisco Federal Reserve Bank.

Fawad Razaqzada

Market analyst at City Index and FOREX.com.

Nitesh Shah

Commodities strategist at WisdomTree.

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What they’re saying

“Gold reclaims its historical role as a neutral sovereign asset, which in my view explains the strong surge in demand for it, especially amid a clear decline in appetite for holding the US dollar as a safe haven.”

— Rania Gule, Senior market analyst (XS.com)

“I think the US labor market is in a 'precarious' position, and that further interest-rate cuts may be needed.”

— Mary Daly, President (San Francisco Federal Reserve Bank)

“Silver is more of a risk asset than gold... when risk appetite is strong, you tend to see silver outperform gold.”

— Fawad Razaqzada, Market analyst (City Index and FOREX.com)

“A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum, and palladium will possibly slow down, after a bearish run in 2025.”

— Nitesh Shah, Commodities strategist (WisdomTree)

What’s next

Investors will closely monitor the upcoming US economic data releases this week, including nonfarm payrolls, CPI, and initial jobless claims, which could provide further insights into the Federal Reserve's monetary policy decisions.

The takeaway

Gold's rise reflects its role as a safe-haven asset in times of economic uncertainty, as investors look to hedge against potential interest rate changes and US dollar fluctuations. The metal's performance is closely watched as an indicator of broader market sentiment and expectations around monetary policy.