Gold price prediction: Gold rate, silver price fall today. What to expect during China Lunar New Year?

Gold price on Thursday fell. Spot gold edged 0.3 per cent lower to $5,064.90 per ounce. U.S. gold futures ​for April delivery lost 0.2 per cent to $5,086.30 per ounce. Spot silver fell 0.5 per cent to $83.59 per ounce, after ​a 4 per cent climb on Wednesday.

"Gold eased back from above $5,100 and silver from above $86 after stronger-than-expected U.S. jobs data tempered expectations of imminent Fed rate cuts, lifting the dollar," said Ole Hansen, head of commodity strategy at Saxo ⁠Bank.

The U.S. ‌dollar index edged higher, making dollar-priced metals more expensive for ​other currency holders.


"The ​renewed focus on incoming economic data suggests a degree of ⁠normalisation following the recent volatility spike, while the upcoming Lunar ​New Year holiday in China may further dampen risk appetite ​and liquidity," Hansen added.

Fed policymakers appear likely to keep interest rates on hold for longer after data on Wednesday showed the U.S. job market began 2026 on a stronger footing than expected.

U.S. job growth unexpectedly increased in January by 130,000 jobs after a downwardly revised 48,000 rise in December, while the unemployment rate ‌fell to 4.3%.

Economists polled by Reuters had forecast payrolls advancing by 70,000 jobs.

Lower interest rates reduce the opportunity cost of holding non-yielding gold.

Investors ​are waiting ​for the weekly U.S. ⁠jobless claims report later in the day and inflation data on Friday for more cues on the Fed's monetary policy path.

"I think the CPI (inflation) print on Friday ​will be key. If we get a softer CPI print coupled with the jobs report data, that could keep gold from advancing much further and could see gold make a foray back below the $5000/oz mark," said Zain Vawda, analyst at MarketPulse by OANDA.

Spot platinum shed 0.7% to $2,117.09 per ounce, while palladium rose 0.7% to $1,704.50.