Gold Holding Above $5,000 As Silver Sees Market Weakness

GOLD

After Gold closed at $4,931 yesterday in the U.S., the price started moving higher in China to $4,975, and by the time it opened today in the U.S., Gold was back over $5,000 per ounce.

January’s consumer price index (CPI) rose 2.4%, down 0.3 percentage points from December, and the lowest since May 2025. Economists had forecast an annual rate of 2.5%. Plus, the Labor Department showed that the number of jobless claims in the United States declined by 5,000 to 227,000 last week, while the Bureau of Labor Statistics said that nonfarm payrolls rose by 130,000 in January, signaling that the U.S. job market started the year on a strong foot and tempering hopes for a short-term interest rate cut by the Federal Reserve. Today, Gold rallied on this news and reached a high of $5,034 per ounce.

At 11am PT today, Gold is up $100.50, trading at $5,031.50 per ounce.

SILVER

Silver reached a low today of $73.86 before rallying higher. Silver’s inability to hold the key $80 per ounce level is not a good sign. Silver had significant selling in most of the overseas markets, keeping the price down as Gold moved higher.

At 11am PT today, Silver is trading at $77.75 per ounce, up $2.20 on average volume.