Gold prices remain above $5,000 mark
Gold is holding steady above $5,000 an ounce after a wild ride—prices plunged as much as about 16% from last week's record high of $5,595.
Even so, gold was still up nearly 15% so far this year (as of Feb. 4, 2026), and silver isn't far behind at about $87 an ounce.
Why is gold's price important?
Gold's big swings are grabbing attention because it's often seen as a safe haven when things get unpredictable.
With global uncertainty rising and investors looking for ways to protect their money, experts say gold could benefit as a safe haven.
What's driving gold's price surge?
A mix of factors: The US dollar has weakened while Chinese demand for bullion has risen. Plus, President Trump nominating Kevin Warsh for Fed Chair has added some market jitters.
Analysts say gold could dip further if it falls below key support levels—but for now, it's holding up.