Gold price today: Near $4,600 as profit-taking cools the record run and Fed bets get tested
New York, Jan 18, 2026, 12:08 EST — Market closed. Gold enters the new week just shy of record highs following a steep drop late last week, as traders balance easing geopolitical tensions against a persistently tight U.S. rate outlook. Spot gold slipped 0.5% on Friday to $4,592.29 an ounce, after earlier dropping to $4,536.49. U.S. gold futures for February closed 0.6% lower at $4,595.40. Despite the pullback, bullion still posted about a 1.9% gain for the week, following a record high of $4,642.72 reached on Wednesday. (Reuters) The moves are crucial because gold’s recent rally hinges on two key