In this video: Let us dubiously speculate on the price of #Gold! Video by Benjamin Cowen.
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Gold prices are experiencing significant volatility today, February 6, 2026, with the spot price trading at approximately $4,819.40 per ounce. While the market is attempting a modest intraday recovery from a sharp early-morning plunge to $4,685, prices remain under pressure following a historic sell-off earlier in the week.
Gold Insights
-Profit Booking & Technical Correction: Following a massive rally in January that saw gold touch record highs near $5,600, investors are aggressively booking profits. The market is currently in a "corrective phase," testing major support levels near $4,600–$4,800.
-Hawkish Federal Reserve: Speculation surrounding the nomination of Kevin Warsh as Fed Chair has bolstered the US Dollar, creating significant headwinds for dollar-denominated commodities like gold.
-Economic Uncertainty: Despite the current pullback, structural demand remains high. Central banks and institutional investors continue to view gold as a critical hedge against global institutional instability and inflation.
