Gold prices eased on Thursday, January 8, 2026, as investors weighed mixed signals from the U.S. economy, even as the precious metal remained firmly supported by strong longer-term fundamentals.
Gold fell to $4,433.38 per troy ounce, down 0.52% from the previous session, extending losses from Wednesday. Despite the daily decline, gold has gained 5.35% over the past month and is up a striking 66.05% compared with the same period last year, according to contract-for-difference (CFD) trading that tracks the benchmark market.
The dip came as fresh U.S. data painted a mixed picture of economic momentum. Job openings fell more than expected in November, pointing to softer labour demand, while private payrolls growth in December also undershot expectations. In contrast, data from the Institute for Supply Management (ISM) showed stronger-than-expected expansion in the U.S. services sector, tempering expectations of an abrupt economic slowdown.
Market attention has now shifted to Friday’s U.S. nonfarm payrolls report, which is expected to provide clearer guidance on the Federal Reserve’s policy path. Investors are currently pricing in two interest rate cuts in 2026, a scenario that generally supports gold by reducing the opportunity cost of holding non-yielding assets.
Geopolitical developments also remained in focus. Washington outlined plans to take long-term control over Venezuelan crude oil sales, alongside the seizure of additional Venezuelan-linked oil tankers, adding to global political uncertainty. The White House also confirmed discussions related to acquiring Greenland, including potential military involvement, further underpinning gold’s role as a safe-haven asset.
Adding to the metal’s longer-term support, China’s central bank extended its gold-buying streak to 14 consecutive months in December, reinforcing strong official sector demand.
While short-term price movements remain sensitive to U.S. data and central bank expectations, gold’s strong gains over the past year highlight continued investor demand amid economic uncertainty, geopolitical tensions, and sustained central bank purchases.
