Gold and silver prices rebound as geopolitical tensions and weaker dollar spur buying

Gold prices rose on Friday as investors sought bargains amid a weaker dollar and high-stakes U.S.-Iran negotiations. Silver also recovered from recent lows.

Insights:
Gold prices rebounded on February 6, 2026, as the market reacted to a slightly weaker dollar and a surge in bargain hunting following a period of intense selling. The recovery was also supported by market concerns surrounding the ongoing U.S.-Iran talks in Oman OMOM. This upward move in the gold market was significant as it reversed a sharp 3.9% one-day fall recorded on Thursday, ultimately pushing bullion toward a weekly gain of approximately 1.3%.
A jeweller shows a piece of gold jewellery to a customer at Dubai’s Gold Souk, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky
A jeweller shows a piece of gold jewellery to a customer at Dubai’s Gold Souk, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky
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