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As on : 05-Feb-2026
Other Markets - Bullion Markets
05-Feb-2026     14:32

Gold retreats after sharp rally amid Fed rate caution

Gold slipped below the $5,000 per ounce mark in Asia on Thursday as profit-taking emerged after the metal's sharp $300 surge in the previous session. The pullback was reinforced by a firmer US dollar, following cautious signals from the Federal Reserve on the pace of future rate cuts. The dollar index climbed above 97.6, hovering near a two-week high, after Fed Governor Lisa Cook highlighted lingering inflation risks and played down expectations of near-term policy easing. Broader attention also remained on upcoming ECB and BOE meetings, both expected to keep rates unchanged, while Japan's weekend election continued to pressure the yen. On the domestic front, MCX April gold futures recovered from intraday lows and last traded near Rs 152,945 per 10 grams, down marginally on the day.

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