Spot gold drops below $5,000 after strong January jobs report cuts rate-cut hopes

Spot gold fell 3.2% to a low of $4,915.74 an ounce on February 12, 2026, dropping below $5,000 for the first time in this episode. The January jobs report, released February 11, showed stronger-than-expected payrolls and a lower unemployment rate, which reduced hopes of near-term Fed rate cuts. Stop-loss orders placed just below $5,000 intensified the selling.

• Spot gold: down 3.2% to a low of $4,915.74
• Trigger: January jobs report released February 11, stronger than expected
• Stop-loss orders just under $5,000 amplified the drop