Gold, silver retreat as dollar ticks up

Published Tue, Feb 10, 2026 · 11:07 AM

[BENGALURU] Gold and silver fell on Tuesday (Feb 10) after two straight sessions of gains, as the US dollar edged higher from a more than one-week low, while investors awaited key US jobs and inflation data due later this week to gauge the interest rate trajectory.

Spot gold fell 1 per cent to US$5,016.56 per ounce by 8.55 am. The metal gained 2 per cent on Monday, as the US dollar weakened to a more than one-week low. It had scaled a record high of US$5,594.82 per ounce on Jan 29.

US gold futures for April delivery lost 0.8 per cent to US$5,041.60 per ounce.

Spot silver was down 2.5 per cent at US$81.31/oz, after rising nearly 7 per cent in the previous session. It had hit an all-time high of US$121.64 on Jan 29.

The US dollar index rose 0.2 per cent from a more than one-week low hit in the previous session, making greenback-priced metals more expensive for overseas buyers.

Stock indexes rose on Monday, with US technology shares leading Wall Street higher, as investors sought bargains in markets beaten down last week, while the yen strengthened following the resounding election win of Japanese Prime Minister Sanae Takaichi.

White House economic adviser Kevin Hassett said on Monday that US job gains could be lower in the coming months due to slower labour force growth and higher productivity, weighing into a debate that is also underway at the Federal Reserve and promises to shape the central bank’s coming policy decisions.

Investors expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June. Non-yielding bullion tends to do well in low-interest-rate environments.

Investors await the nonfarm payrolls report for January, due on Wednesday, and inflation data on Friday for more cues on the Fed’s monetary policy path.

Spot platinum shed 1.6 per cent to US$2,088.71 per ounce, while palladium lost 1.7 per cent to US$1,710.68. REUTERS