Gold & Silver fall amid strong Dollar & AI stock concerns
Fri Feb 06 2026
Gold and silver prices rebounded from early losses on Friday, but are still on track for their second consecutive weekly decline. A global sell-off in technology stocks and a stronger dollar have erased most of the gains the precious metals made during a brief recovery earlier this week.
Spot gold rose 0.4% to $4,790.80 per ounce by 02:24 GMT, but is heading for a 1.4% weekly loss, according to Reuters.
Spot silver was mostly steady at $71.32 per ounce after plunging 19.1% in the previous session. Earlier in the day, it had fallen as much as 10% below $65, its lowest level in more than six weeks.
Silver is also on track for its second consecutive weekly loss, down nearly 16% after plunging 18% last week in its biggest weekly decline since 2011.
Platinum fell 4.7% in spot trading to $1,892.74 an ounce, after hitting a record high of $2,918.80 on January 26, while palladium rose 0.8% to $1,628.95. Both metals are headed for weekly losses.