Gold after January's record: what are you watching now?

Gold set a record of $5,589 an ounce in January 2026 and was trading near $4,300 in early September. That's a deep retreat from the peak, though still far above where gold traded a few years ago.

Questions for gold traders:

• What are you watching most: real interest rates, the dollar, central bank buying or safe-haven demand?
• Has the energy shock and the conflict in the Middle East changed how gold reacts to news?
• How do you size gold positions, given how much wider its daily range is in dollar terms than most currency pairs?

Share analysis, not price calls. The XAU/USD page has the live chart, and what moves the gold price covers the main drivers.