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Daily brief · Tuesday, February 3, 2026

Gold, silver and PGMs rebound sharply as buyers return after steep selloff

Precious metals jumped Tuesday after two days of sharp losses, with buyers stepping back in as the dollar slipped and markets refocused on the path for Federal Reserve rate cuts. Several outlets also stressed unusual volatility in gold, with big swings tied to central-bank expectations and shifting inflation-hedge positioning.

AI summaryWritten automatically with AI from 25 linked reports and our own price data, Oct 21, 2:33 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for February 3, 2026

Gold $4,920.95 +4.37% 30d +13.0% Silver $87.49 +6.73% 30d +17.9% Platinum $2,247.00 +4.76% 30d +5.4% Palladium $1,817.00 +3.77% 30d +10.7%

Tone of the reports: Mixed

What happened

  1. Reuters reported gold was set for its biggest daily gain since 2008 as investors rushed back after the selloff, with buying returning across the market.

    SourcesReuters: Gold set for biggest daily gain since 2008 as investors rush back after selloff2: Gold poised for new records as buyers return to the fray

  2. Yahoo Finance said the dollar slipped and precious metals surged as markets looked ahead to expected Federal Reserve rate cuts.

    SourcesYahoo Finance: Dollar Slips and Precious Metals Surge - Yahoo Finance

  3. Fed’s Miran told Fox Business he still wants rate cuts this year, keeping policy expectations in focus for metals.

    SourcesReuters: Fed's Miran tells Fox Business he still wants rate cuts this year

  4. Kitco said gold and silver held strong gains as risk appetite faded and dip-buyers stepped in after the recent pullback.

    SourcesKitco News: Gold, silver holding strong gains as risk appetite fades a bit - KITCO

  5. Bloomberg described gold as behaving more like a “meme stock” lately, with price moves tied to central-bank action and inflation concerns.

    SourcesBloomberg: Gold Is Behaving More Like a Meme Stock These Days - Bloomberg

  6. Bloomberg noted volatility eased after two steep down sessions, while metals including gold and silver rebounded in broader market updates.

    SourcesBloomberg: Asian Stocks Set for Best Day Since April on AI Optimism Rebound2: FTSE 100 Live: Stock Rally Fades, Metal Prices Rebound - Bloomberg

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

Metal by metal

Gold $4,920.95 +4.37%

Reuters said buyers returned after a sharp selloff, putting gold on track for an outsized one-day rebound. Bloomberg highlighted unusually high volatility, framing gold’s swings as closely tied to central-bank expectations and inflation concerns, while some coverage pointed to rapid shifts in inflation-hedge positioning.

Gold headlines

Silver $87.49 +6.73%

Coverage largely treated silver as moving with the broader precious-metals rebound. Kitco said silver held strong gains as buyers stepped in after the dip, and Bloomberg/Yahoo Finance also cited a weaker dollar and a broad metals rally.

Silver headlines

Platinum $2,247.00 +4.76%

Investing.com included platinum among the metals advancing as the complex steadied after two days of sharp losses, but details on platinum-specific drivers were limited in today’s reports.

Platinum headlines

Palladium $1,817.00 +3.77%

No report focused on palladium.

Palladium headlines

The day’s reports

31 reports, most important first, New York time.

  1. 8:40 AM Reuters · 8:40 AM▲ Reports a rise Gold set for biggest daily gain since 2008 as investors rush back after selloff Reuters says gold is set for its biggest daily gain since 2008 as investors return after the selloff.
  2. 7:00 PM Yahoo Finance · 7:00 PM▲ Reports a rise Dollar Slips and Precious Metals Surge - Yahoo Finance The dollar slipped and precious metals surged as markets looked ahead to expected Federal Reserve rate cuts.
  3. 7:00 PM Bloomberg · 7:00 PM Gold Is Behaving More Like a Meme Stock These Days - Bloomberg Bloomberg says gold is behaving more like a meme stock, with moves tied to central bank action and inflation concerns.
  4. 1:57 PM The Economic Times · 1:57 PM▲ Reports a rise Gold price again closer to $5,000 – Why gold futures are surging today – How gold has outperformed stocks as gold price forecasts point to $6,000 in 2026 Gold futures surged nearly 7% and gold price forecasts are pointing higher in 2026.
  5. 8:53 AM Reuters · 8:53 AM▲ Reports a rise Gold poised for new records as buyers return to the fray Reuters says gold is poised for new records as buyers return to the market.
  6. 8:33 AM Reuters · 8:33 AM Fed's Miran tells Fox Business he still wants rate cuts this year Fed's Miran told Fox Business he still wants rate cuts this year.
  7. 7:00 PM Bloomberg · 7:00 PM Asian Stocks Set for Best Day Since April on AI Optimism Rebound Bloomberg says stocks got a boost as volatility in gold and other precious metals eased after two steep down sessions.
  8. 7:00 PM Investing.com · 7:00 PM▲ Reports a rise Gold prices rise as precious metals steady from two-day wipeout Gold rose and silver and platinum also advanced as precious metals steadied after two days of sharp losses.
  9. 7:00 PM Bloomberg · 7:00 PM▲ Reports a rise Copper Rebounds as China Industry Group Calls for Stockpiling Copper rebounded after a China industry group called for stockpiling, while gold and silver also rallied sharply.
  10. 7:00 PM Bloomberg · 7:00 PM▲ Reports a rise FTSE 100 Live: Stock Rally Fades, Metal Prices Rebound - Bloomberg Gold, silver and copper rebounded as metal prices recovered in a Bloomberg market update.
  11. 7:00 PM Bloomberg · 7:00 PM Chipmakers, Gold Power Emerging-Market Rebound After Fed Jitters Emerging-market assets rebounded as a weaker dollar and easing precious-metals volatility helped sentiment after Fed jitters.
  12. 7:00 PM Yahoo Finance · 7:00 PM▼ Reports a fall A single Trump announcement sparks billions in losses across gold ... Yahoo Finance says a Trump announcement triggered losses across gold markets as investors who used gold as an inflation hedge reversed course.
  13. 7:00 PM Kitco News · 7:00 PM▲ Reports a rise Gold, silver holding strong gains as risk appetite fades a bit - KITCO Gold and silver are holding strong gains as risk appetite fades and buyers step in after recent dips.
  14. 7:00 PM Yahoo Finance · 7:00 PM Eldorado Gold Foran Deal Recasts Valuation And Shifts Toward ... Eldorado Gold agreed to buy Foran Mining in a C$3.8 billion deal that reshapes the company's valuation.
  15. 7:00 PM Bloomberg · 7:00 PM China's Speculative Gold Rush Tests Risk Appetite in Beijing Bloomberg reports that speculative gold trading in China is testing risk appetite as the global gold market remains volatile.
  16. 7:00 PM MarketWatch · 7:00 PM During the worst day for gold in 46 years, options traders made bets ... MarketWatch says options traders are betting gold could reach $10,000, $15,000, or even $20,000 an ounce.
  17. 7:00 PM Investing.com · 7:00 PM▼ Reports a fall Gold Futures Could Struggle to Stabilize as US Dollar Firms on ... Gold futures struggled to stabilize as a firmer U.S. dollar and profit-taking pressured prices.
  18. 4:03 PM Kitco News · 4:03 PM ‘The paper era is over’: Giustra warns of ‘take down’ in gold, calls ‘project vault’ a signal of new world order Giustra warns of a possible gold selloff and says Project Vault points to a new world order.
  19. 3:14 PM Kitco News · 3:14 PM MKS PAMP Capitalizing on Tokenized Gold as investor interest grows MKS PAMP is capitalizing on tokenized gold as investor interest grows.
  20. 3:14 PM Kitco News · 3:14 PM MKS Capitalizing on Tokenized Gold as investor interest grows MKS is capitalizing on tokenized gold as investor interest grows.
  21. 2:23 PM Kitco News · 2:23 PM John Feneck says volatility is now a defining feature of the metals bull market John Feneck says volatility has become a defining feature of the metals bull market.
  22. 12:28 PM Reuters · 12:28 PM Ghana offers levy cut as sweetener for higher gold royalty regime Ghana is offering a levy cut to support a higher gold royalty regime.
  23. 8:13 AM CNBC · 8:13 AM▼ Reports a fall Ray Dalio warns the world is 'on the brink' of a capital war - CNBC CNBC says Ray Dalio warned of a capital war and discussed investing in gold after the metal's sharp selloff.
  24. 7:33 AM Kitco News · 7:33 AM▲ Reports a rise Strong price rebounds in gold, silver despite better risk appetite Kitco News says gold and silver rebounded strongly despite improved risk appetite.
  25. 7:00 PM FXEmpire · 7:00 PM Gold (XAUUSD) & Silver Price Forecast: Pullback Fades—Are Bulls ... FXEmpire offers a gold and silver forecast as the pullback fades and bulls try to regain control.
  26. 7:00 PM Investing.com · 7:00 PM Gold could crash 99.9% in worst-case scenario, this strategist says An Investing.com strategist says gold could crash 99.9% in a worst-case scenario.
  27. 7:00 PM Economies.com · 7:00 PM Dollar steadies on Fed bets, data - Economies.com Dollar strength and Fed bets are in focus as the article also mentions gold holdings at SPDR Gold Trust.
  28. 5:51 PM Kitco News · 5:51 PM Mining’s Bull Market Still Has Not Fully Arrived | Nicole Adshead-Bell Nicole Adshead-Bell argues the mining bull market has not fully arrived yet.
  29. 10:49 AM Kitco News · 10:49 AM Is the worst over for gold and silver? Kitco asks whether the worst is over for gold and silver.
  30. 7:27 AM Kitco News · 7:27 AM Gold market analysis for February 3 - key intra-day price entry levels for active traders Kitco News offers gold market analysis and key intraday entry levels for active traders.
  31. 7:00 PM Investing.com · 7:00 PM Oil prices to trade at $55–$65 range through Q1 2026 amid ... The article discusses oil forecasts and briefly notes gold as a global protective asset.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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