ETO Markets Global Pulse: Gold Rebounds Violently After Sharp Selloff

Market Review

According to ETO Markets monitoring, on Feb 5 (Thursday), precious metals came under heavy pressure. Spot gold fell nearly 4% on the day, briefly sliding to an intraday low of USD 4,775/oz. Spot silver saw a much steeper selloff, plunging almost 20% to a low of USD 70.69/oz. A stronger U.S. dollar and broad risk-off moves across global assets triggered aggressive liquidation in precious metals, sharply amplifying volatility.

During Asian trading on Feb 6 (Friday), precious metals staged a technical rebound. Spot gold recovered around 0.6% to USD 4,797.29/oz, while spot silver rebounded nearly 1% to USD 71.95/oz, as selling pressure temporarily eased.

Global Headlines

U.S. Job Openings Hit Multi-Year Low

U.S. Labor Department data showed job openings fell to 6.54 million in December, the lowest level since 2020 and below market expectations. Declines were concentrated in professional and business services as well as retail, with openings per unemployed worker dropping to 0.9, signaling continued cooling in the labor market.

CME Raises Gold and Silver Margins

CME Group announced higher margin requirements for selected gold, silver and aluminum futures contracts. Gold margins were raised to 9%, while silver margins were increased to 18%, with the new levels taking effect after the Feb 6 close.

Iran Foreign Minister Heads To Oman Talks

Irans Foreign Ministry said the foreign minister will lead a delegation to Oman for nuclear talks with the United States, aiming to reach a mutually acceptable agreement. Formal discussions are scheduled to take place in Muscat.

U.S., Ukraine and Russia Reach Prisoner Swap

Ukraines negotiation team said the U.S., Ukraine and Russia held talks in Abu Dhabi and reached a prisoner exchange agreement. Russia and Ukraine will each release 157 detainees, with all sides agreeing to continue dialogue.

ECB Weighs Expanding Liquidity Access

Sources said the European Central Bank is studying plans to extend euro liquidity facilities to more countries, standardize repo access rules and lower usage costs. An announcement could come in the near term.

Trump Signals Support For Japans Ruling Bloc

Former U.S. President Trump said on social media that he would fully support Japanese Prime Minister Sanae Takaichi and her ruling coalition, stressing the importance of upcoming election outcomes for Japans future.

ETO Markets Analyst View (Spot Gold)

After the sharp selloff, spot gold has entered a phase of slowing volatility. From a technical standpoint, USD 4,855/oz marks a key near-term pivot. Below this level, prices remain in a corrective channel, with downside support to watch near USD 4,610 and USD 4,475. A sustained recovery above USD 4,855 would reopen upside potential toward USD 4,935 and USD 5,020.

RSI continues to trend lower, indicating short-term momentum remains in a release phase and downside risks have not fully cleared. Overall, amid higher margin requirements, a stronger U.S. dollar and temporarily easing geopolitical tensions, gold volatility is likely to remain elevated. While short-term swings may persist, medium-term pricing remains supported by liquidity expectations and broader macro uncertainty. Careful risk and position management is advised.

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