Gold prices climbed in Wednesday morning trading on February 4, 2026. As of 07:38 a.m. WIB, gold futures for April 2026 delivery on the Commodity Exchange were priced at US$5,004.10 per troy ounce, up 1.40% from the previous session’s close of US$4,935 per troy ounce.
The precious metal rebounded after a sharp decline last week. However, several market observers cautioned that the recent surge in gold prices has been too strong and too rapid.
“We believe a correction would be healthy for the market over the longer term,” said Joni Teves, analyst at UBS AG, as quoted by Bloomberg.
“This period should provide investors with an opportunity to build strategic long-term positions at more attractive entry levels,” she added in a research note.
Most major banks remain supportive of the gold price rebound. Deutsche Bank AG reiterated its outlook that bullion prices are expected to continue rising and could reach US$6,000 per troy ounce.