AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

1/7/2026: Gold slides on profit-taking

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slid 0.7% to close under $4,450 after mixed US economic data prompted traders to take profits from bullion's 3.7% rally over the previous two sessions. Silver shed 4.2% to finish at $77.13 an ounce after gaining more than 13% this week.

US hiring remained sluggish in December and jobs are harder to come by. ADP reported that private payrolls increased by merely 41,000 jobs, falling short of expectation, while November's total was revised down to a scant 29,000. Meanwhile, job openings tumbled to a 14-month low in November, according to the Labor Department.

In contrast with the stagnant labor market, the US services sector unexpectedly improved in December, according to ISM data. More than 70% of Americans are employed in services-related businesses.

Equities fell from near record territory, with the down dropping 1%, as banks and financial shares were hurt and AI uncertainty returned.

Benchmark 10-year Treasury yields edged down slightly, backstopping gold's slide, as investors shifted from equities to the perceived safety of government debt. The dollar traded flat.

China's central bank bought gold for its currency reserves for the fourteenth straight month in December. Aggressive purchases by global central banks, especially in emerging markets, were a key driver of record gold prices in 2025, a trend that is expected to continue in 2026.

Platinum and palladium fell 7.4% and 3.1%, respectively.

At the New York spot gold slid $32.90 to $4,4449.30; silver fell $3.40 to $77.13; platinum dropped $180.60 to $2,233.40; and palladium lost $55.85 to $1,756.25 an ounce.