Dawn
-
08:29 Feb 05, 2026
Gold and silver prices fell sharply in a broader market selloff on Thursday, as an advance in the dollar to a near two-week high and signs of easing US-China trade tensions added further pressure on the precious metals. Spot gold declined 2.5 per cent to $4,838.81 per ounce, as of 05:35am GMT (10:35am PST), retreating from a near one-week high hit earlier in the session. US gold futures for April delivery dropped 1.9pc to$4,855.60 per ounce. “The dollar received a new lease of life with the (Kevin) Warsh nomination (as Federal Reserve chief), and the currency has been able to keep making forward progress … traders are more circumspect now on gold in light of recent extreme volatility,” Tim Waterer, KCM chief trade analyst, said. The dollar rose to a near two-week high on Thursday, making greenback-priced gold more expensive for other currency holders. “Sentiment (has) turned soggy across most asset classes, including precious metals, cryptocurrencies and regional equities, with losses feeding into one another...