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Commodity News Details
Gold rallies to $5,080 on weak dollar and safe-haven demand
11-Feb-2026 14:45
Gold prices surged 1% to around $5,080 per ounce on Wednesday, supported by strong safe-haven demand and sustained central bank buying. China extended its gold purchases for a 15th consecutive month, reinforcing bullish sentiment. The US dollar weakened ahead of the delayed January non-farm payrolls report. The dollar index slipped to around 96.4 after soft US retail sales data raised expectations of Federal Reserve rate cuts. Geopolitical risks, including lingering US-Iran tensions and ongoing Russia-Ukraine hostilities despite diplomatic efforts, continued to underpin prices. In India, MCX April gold futures climbed over 1% to ₹1,58,140 per 10 grams, with investors now watching upcoming US jobs and inflation data closely.

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