UK Gold Market Report - 06 February 2026

Friday, 06 February 20260

BUY

Short-term stable to down with recent weekly dip, but long-term bullish supported by inflation dynamics and global demand

Gold Movement

-0.56%

Market Trend

down

Outlook

Bullish

Key Market Drivers

Recent weekly decline of 0.56%
UK CPI inflation at 3.4% with expected fall to 2.1% in 2026 Q2 due to energy prices
Bank of England Bank Rate reductions supporting easing monetary policy
Global gold price volatility with USD highs near $5000/oz but recent pullbacks
Elevated trading volumes amid price fluctuations

Market Insights

Current spot price £2,490.14/oz with week high £2,543.72 and low £2,474.37

Strong yearly gains: 33.31% YTD per one source, 65.12% over 5 years

UK inflation above 2% target but moderating; services and wage pressures easing

Market Outlook

Short-term stable to down with recent weekly dip, but long-term bullish supported by inflation dynamics and global demand

Best Prices

Half Sovereign

£448.20

at BullionByPost

Gold Sovereign

£885.00