Gold eases on profit-booking after breaching $4,600/oz
Tue Jan 13 2026
Gold eased on Tuesday, a day after breaching $4,600/ounce for the first time ever, as investors booked profits amid heightened geopolitical and economic uncertainty.
FUNDAMENTALS
* Spot gold fell 0.4% to $4,576.79 per ounce as of 0134 GMT. Bullion hit a record high of $4,629.94 on Monday.
* U.S. gold
futures for February delivery lost 0.6% to $4,585.40.
* U.S. President Donald Trump said on Monday any country that does business with Iran will face a 25% tariff on trade with the U.S., as Washington weighs a response to the situation in Iran which is seeing its biggest anti-government protests in years.
* Iran's unrest comes as Trump flexes U.S. muscles internationally, having
ousted Venezuelan President Nicolas Maduro, and discussing acquiring Greenland
by purchase or force.
* The dollar held to its losses but hovered near one-month highs after the Trump administration opened a criminal investigation into Federal Reserve Chair Jerome Powell, a move that threatens the central bank's independence and faith in U.S. assets.
* The Trump administration's decision to investigate Powell drew condemnation
from former Fed chiefs and a chorus of criticism from key members of the
Republican Party on Monday.
* Meanwhile, major brokerages such as Goldman Sachs and Morgan Stanley expect
two 25-basis-point rate cuts each in
June and September.
* Non-yielding assets tend to do well in a low-interest-rate environment and during
geopolitical or economic uncertainties.
* Spot silver shed 1.6% to $83.62 per ounce after hitting an all-time high of
$86.22 on Monday.
* Spot platinum lost 2.5% to $2,283.95 per ounce after scaling a record peak of
$2,478.50 on December 29.
* Palladium slid 3.7% to $1,774.44 per ounce.