Gold price today climbs back above $5,000 as buyers return

Gold prices rebounded sharply in the latest session, pushing spot levels back above the psychologically important $5,000 per ounce mark after recent volatility. As of 9:20 p.m. ET on Wednesday, February 4, 2026, spot gold was around $5,062 per troy ounce, up about 2.3% on the day.

The move follows a choppy stretch where rapid swings in the dollar, interest-rate expectations, and haven demand have produced unusually wide intraday ranges for precious metals.

Spot gold price now

Here are the key spot levels (U.S. dollars), using the latest available real-time reading:

• Spot gold: ~$5,062 per troy ounce (as of 9:20 p.m. ET, Feb. 4, 2026)

• Day’s range: ~$4,910 to ~$5,065 per ounce

• Previous close reference: ~$4,947 per ounce

For quick conversions (rounded):

• Per gram: ~$162.75
  (because 1 troy ounce = 31.1035 grams; $5,062 ÷ 31.1035 ≈ $162.75)

• Per kilogram: ~$162,750
  (1,000 grams × ~$162.75)

What’s driving gold today

Gold’s bounce appears to be fueled by a familiar mix of factors that tend to move the metal in the same direction:

• Safe-haven demand: When geopolitical or macro uncertainty rises, gold often benefits as investors look for assets perceived as defensive.

• Rates and the dollar: Gold tends to strengthen when the market leans toward lower real yields (or a softer dollar), because the opportunity cost of holding non-yielding gold decreases.

• Positioning after a selloff: Sharp, fast declines can trigger forced selling and then equally sharp snapbacks once pressure eases and bargain-hunting begins.

Even with today’s rebound, the key takeaway is how wide the trading band has become. Moves of more than $100 per ounce in a session—once notable—have become less rare in recent weeks.

What “gold price today” means in practice

When people check “gold price today,” they may be seeing different numbers depending on the reference:

• Spot price (XAU/USD): A benchmark for immediate delivery used widely across markets.

• Futures price: A contract price for delivery in a future month, which can trade above or below spot.

• Retail bullion price: What you pay for coins/bars, typically spot + premium, where premiums vary by product, availability, and dealer inventory.

So if your local gold dealer or app shows a different number than the spot quote, it’s usually because of premiums, spreads, taxes, or currency conversion.

Levels to watch next

Two nearby levels are likely to matter to traders and everyday watchers alike:

• $5,000 per ounce: A round-number level that often acts as a sentiment marker.

• Today’s high near $5,065: A short-term ceiling from the day’s range that can become a reference point for the next session.

If gold holds above $5,000, it can reinforce the idea that buyers are still willing to step in aggressively on dips. If it slips back below, markets may read it as a sign that volatility is still in control.

Sources consulted: Investing.com; Kitco; Westmetall; Yahoo Finance