Spot gold rose 0.9% to $5,004.61 per ounce by 7.58am Irish time on Monday after a 4% climb on Friday. "This could be the very short-term intraday correlation between the dollar and silver as well as gold (driving the metals up)," said Kelvin Wong, a senior market analyst at OANDA. "Any softness in the jobs data could help gold's rebound efforts. We are not expecting a rate cut from the Fed until mid-year, unless the jobs data really starts to drop off a cliff," Waterer said. "Unless silver is able to clear above that key resistance at $92.24, I'm not so convinced in terms of a probability perspective of a medium uptrend," Wong said.

Source: Irish Examiner February 09, 2026 08:21 UTC