Gold slips under $5,000 mark for 1st time since January
Gold dropped 1% recently, falling just under $5,000 an ounce as investors locked in profits after a strong rally.
Silver slid too, down 1.8% to $76.03 per ounce, while the US dollar ticked up slightly.
Gold's multiyear rally and future price predictions
Gold has risen sharply over the past year—thanks to global tensions and hopes that US interest rates will drop soon.
Some experts even see prices hitting $5,800 by mid-2026, so gold's still very much on people's radar.
Factors influencing gold's recent dip
Recent US inflation data was mild, making a rate cut seem more likely and boosting gold earlier.
But with Asian markets quieter during the Lunar New Year holiday and failed pushes above $5,100 sparking selling, prices dipped again.
Plus, with the US market closed for Presidents's Day on February 16, traders are playing it safe for now.