Gold down to $4,590 amid easing geopolitical tensions, Dollar rebound

WORLD CAPITALS, 16th January, 2026 (WAM) — Gold extended its modest losses on Friday, slipping -at the time of pubishing- to around $4,590 per-troy-ounce level. The pullback came amid easing geopolitical tensions and a late rebound in the US dollar.

By 15:48 GMT, spot gold was down 1% at $4,567.89 per ounce, but was on track for a second consecutive weekly gain after hitting a record high of $4,642.72 on Wednesday.

US gold futures for February delivery fell 1.1% to $4,570.90 an ounce.

Among other precious metals, spot silver fell 4.5% to $88.14 per ounce, but was heading for weekly gains of more than 10% after touching an all-time high of $93.57 in the previous session.

Spot platinum slid 4.7% to $2,296.75 an ounce, though it was set for weekly gains, while palladium fell 3.1% to $1,744.95 an ounce.

Meanwhile, as chipmakers returned to the forefront in a volatile week, the S&P 500 and Nasdaq opened higher. The Dow Jones Industrial Average rose 24.3 points, or 0.05%, at the open to 49,466.7, while the S&P 500 gained 16.1 points, or 0.23%, to 6,960.54, and the Nasdaq Composite climbed 109.7 points, or 0.47%, to 23,639.687.