Gold Prices Plunge on Friday Morning (Feb 6, 2026), Volatility Likely to Persist
Gold prices tumbled again in Friday morning trading on February 6, 2026. As of 07:36 WIB, gold futures for April 2026 delivery on the Commodity Exchange fell to US$4,715.70 per troy ounce, marking a 3.55% decline from the previous session’s close of US$4,889.50 per troy ounce.
The decline came amid a lack of fresh catalysts to support the market following last week’s sharp sell-off. According to Bloomberg, gold prices have shown sluggish movement this week as traders continue to search for the next major breakout.
“I believe this volatility will continue in the near term,” said Ewa Manthey, Commodity Strategist at ING Bank, as quoted by Bloomberg. “The market will keep adjusting positions, and price movements are likely to be less linear compared to what we have seen in recent weeks.”
Despite the downturn, gold prices continue to receive some support from ongoing geopolitical tensions. US President Donald Trump stated that diplomatic talks between the United States and Iran are still ongoing, helping to limit deeper losses in the precious metal market.