Upon evaluating gold futures across multiple timeframes, I observe that both have now responded to the significant release. This development is likely to trigger a selling spree in both metals following the outcome of the meeting between President Trump and Israeli Prime Minister Netanyahu, which is expected to commence shortly.
Market attention was focused on the delayed January Jobs report. According to the U.S. Bureau of Labor Statistics, total nonfarm payrolls increased by 130,000 in January 2026, surpassing the consensus estimate of 66,000 and accelerating from December 2025’s 48,000 reading.
However, the decreased to 4.3% in January from 4.4% the previous month.
Undoubtedly, the jobs data report has dented the bullish sentiment in the precious metals, as soon after the announcement of the January jobs report, gold and silver futures shed half of the day’s gain, near the completion of an exhaustive candle.
U.S. Treasury yields popped after the data as traders rushed to snap up bonds following the recalibration in rate cut bets. Wall Street has given up opening gains to turn lower, while the dollar has recovered from the day’s low.
Now, the precious metal futures are trading in a narrow range since the start of the meeting, as the White House meeting is closed to the media, and traders are waiting for the outcome of this meeting.
Undoubtedly, the Israeli leader is expected to press Trump to widen U.S. talks with Iran to include limits on Tehran’s missile arsenal and other security threats beyond its nuclear program.
Netanyahu hopes to influence the next round of U.S. discussions with Iran following nuclear negotiations held in Oman last Friday, while Trump has threatened strikes on Iran if no agreement is reached, and Iran has vowed to retaliate, stoking fears of a wider war.
Israel fears that the U.S. might pursue a narrow nuclear deal that does not include restrictions on Iran’s ballistic missile program or an end to Iranian support for armed proxies such as Hamas and Hezbollah, according to people familiar with the matter.
I observe that the elevated anxiety looks evident enough to push the precious metal futures in a single direction, and soon the outcome is announced.
Undoubtedly, gold and silver futures could take a sharp reversal after a sharp directional move, as the traders would prefer to book profit on any side directional move, as the post-meeting announcement hardly weighs on the final move by U.S. President Trump.
I find that the markets will wait till the outcome of the second round of meetings between the U.S. and Iran before moving in a single direction for a long time.
Undoubtedly, positive development on this front to avoid a military strike will be preferred to avoid mass destruction.
I observed that a positive development or an accommodative step by Trump to avert war will result in the advent of a heavy sell-off in both gold and silver, as the elevated valuations have resulted in sticky global inflation, which has turned into a big challenge for the global central banks.
