NEW YORK, Jan 3, 2026, 12:24 ET — Market closed
Gold prices began 2026 near record territory, ending Friday modestly higher even as the dollar and U.S. Treasury yields firmed. Spot gold rose 0.36% to $4,329.57 an ounce, while the dollar index gained 0.19% and the 10-year yield rose 3.8 basis points (0.038 percentage point) to 4.191%, Reuters reported. Reuters
The tug-of-war matters because bullion’s rally has been closely tied to where investors think U.S. interest rates are headed. Lower rates reduce the opportunity cost of holding gold, which does not pay interest.
Comex February gold settled 0.3% lower at $4,329.6 after bullion rose as high as $4,402.06 earlier in the session, Reuters said. “Talk about cuts in March … and continued U.S. debt are moving gold higher,” said Bart Melek, global head of commodity strategy at TD Securities. Reuters also cited geopolitical tensions as support and said Kitco Metals analyst Jim Wyckoff pegged resistance near the contract record high around $4,584. Reuters
Gold-linked exchange-traded funds (ETFs) — funds that trade like stocks — tracked bullion’s move into the weekend. SPDR Gold Shares rose 0.5% to $398.28 on Friday, while the VanEck Gold Miners ETF was little changed at $85.73; Newmont gained 1.4% and Agnico Eagle added 0.5%, according to market data.
A regulatory filing showed Newmont EVP and Chief People Officer Jennifer Cmil disposed of 609 shares on Dec. 30 to cover payroll-tax withholding, and the form said no discretionary sale was involved. SEC
Flows into gold-focused vehicles remained supportive. Gold and precious-metals commodity funds took in about $2.03 billion in the latest week, their eighth straight weekly inflow, according to LSEG Lipper data cited by Reuters. Reuters
In currency markets, the dollar began 2026 firmer after its biggest annual drop in eight years, leaving gold buyers outside the U.S. facing a higher local-currency price. Investors are awaiting a delayed burst of U.S. economic data after a recent federal government shutdown, which traders have been using to refine rate-cut expectations, Reuters reported. Reuters
Before the next U.S. cash session on Monday, traders are focused on next week’s U.S. labor-market and inflation readings, with the Employment Situation report due Jan. 9 and the CPI report due Jan. 13. Bureau of Labor Statistics
The Federal Reserve’s next scheduled policy meeting is Jan. 27-28, putting fresh focus on how officials frame inflation progress and the path for rates. Federal Reserve
For bullion, the $4,300 area is the nearest psychological support, while a return toward $4,400 would put Friday’s highs back in view. A firmer dollar and higher real yields — yields after inflation — are typically the main headwinds.
Gold miners can amplify bullion’s swings because margins depend on the gap between gold prices and operating costs, including energy and labor. Investors will watch for early-quarter production and cost updates as the sector moves past year-end positioning.
