Sharp Correction in Gold and Silver: Markets Await Critical US Data

Profit-Taking in Precious Metals Spot gold prices fell by 1% to $5,016.56 on Tuesday, following a 2% surge on Monday.
Silver had previously reached an all-time high of $121.64 on January 29.
Strengthening Dollar and Global Markets The US Dollar Index rose by 0.2%, making dollar-denominated commodities more expensive for international buyers.
Meanwhile, global markets saw a rise on Wall Street led by technology stocks, while the Japanese yen strengthened following Sanae Takaichi’s election victory.
Fed Expectations and Critical Data Calendar White House economic advisor Kevin Hassett noted that employment growth could remain lower in the coming months due to slowing labor growth and productivity gains.
These remarks are seen as part of the ongoing debate shaping the Federal Reserve's future policy decisions.
Market participants maintain expectations for at least two 25-basis-point interest rate cuts starting in June 2026.
Investors are now focusing on Wednesday's non-farm payrolls report and Friday's inflation data to clarify the Fed's monetary policy path.
Other precious metals also saw declines; spot platinum fell 1.6% to $2,088.71, while palladium dropped 1.7% to $1,710.68.