Gold slips from one-week high

Gold slid on Wednesday, January 7, 2026, as investors booked profits after prices briefly hit a more than one-week high earlier in the session.

Spot gold slipped 1.1% to $4,449.38 per ounce, as of 0715 GMT. It touched a record high of $4,549.71 last Monday.

United States gold futures for February delivery were 0.8% lower at $4,460.50.

Prices are not being influenced “that much from a fundamental perspective, there’s a lot of speculation… price action has for the most part been skewed to the upside, but it’s showing two-way volatility,” Capital.com senior financial markets analyst Kyle Rodda said.

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He added that the U.S. dollar was also playing a role in depressing prices.

The dollar held near a more than two-week high, making greenback-priced assets more expensive for other currency holders, according to Reuters.

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Investors expect at least two interest rate cuts by the Federal Reserve this year, while they look to U.S. non-farm payroll data on Friday for more clues.

The JOLTS survey and ADP private payrolls data on Wednesday may also set the market tone.