Gold Still up 15% This Year Despite Historic Silver Crash, Markets Watch US Jobs Data for Next Move

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Gold and silver rates today sent a fresh signal to global markets as prices reversed sharply after weeks of strong gains. The sudden fall broke the momentum built in January and forced investors to reassess risk and reward in precious metals. The correction came fast, but market confidence has not vanished.

Spot gold fell more than 2% and traded near the $4,800 per ounce level. Silver prices moved more aggressively. The precious metal crashed almost 9% to around $76 per ounce. The drop followed a sharp intraday surge that had briefly pushed silver close to $90. Volatility ruled the session from start to finish.

What Triggered the Sudden Price Fall

Gold and silver rates today reflect a clear shift in sentiment. Precious metals had surged last month on speculative buying, geopolitical stress, and concerns around the Federal Reserve’s independence. That rally started to fade late last week. Silver recorded its steepest single-day fall on record. Gold saw its sharpest drop since 2013.

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Despite the fall, gold prices remain about 15% higher for the year. Prices also stay nearly 11% below the all-time high reached on January 29. Silver still shows strong yearly gains, even after the crash. The broader trend has not fully broken.

Global Events and Economic Data in Focus

Global events played a major role. Iran and the United States plan fresh talks, easing immediate fear trades. US President Donald Trump also held detailed discussions with Chinese President Xi Jinping ahead of a proposed April visit. These signals reduced safe-haven urgency for gold price.

Economic data added pressure. US private hiring slowed sharply in January. ADP data showed only 22,000 new jobs against expectations of 48,000. Markets now await the delayed US employment report scheduled for February 11. The release may guide the next move in precious metals.

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Expert Views and Market Outlook

Market experts see mixed signals. Rahul Kalantri of Mehta Equities said gold and silver rebounded earlier after heavy selling. He pointed to geopolitical risk, a softer dollar, and government shutdown concerns as past supports. However, profit booking and cooling momentum triggered the latest slide.

Banks still expect strength ahead. Deutsche Bank sees potential for gold prices to surge toward $6,000 per ounce over time. Goldman Sachs also flags upside risk to its $5,400 target for December 2026 due to strong private demand.

Ponmudi R of Enrich Money described the current phase as a reset. Gold prices continue to attract buying between $4,600 and $4,800. Silver trades within a wide range as industrial demand supports the longer trend, despite sharp swings.

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Precious metal rates today suggest a pause, not a collapse. Analysts call the fall a correction after extreme gains. Volatility may persist, but long-term demand drivers remain active.