On February 6, 2026, the Shanghai Gold Exchange's Shanghai Gold (standard weight 1 kg, gold ingots with a fineness of not less than 99.99%; pricing contract) morning session benchmark price was quoted at 1,074.67 yuan/gram. Compared to the previous trading day's (February 5) afternoon session benchmark price of 1,102.14 yuan/gram, it decreased by 27.47 yuan/gram (-2.49%).
PriceSeek's analysis of gold indicates a bullish-bearish score of -2. The report states that on February 6, 2026, the Shanghai Gold Exchange's Shanghai Gold (standard weight 1 kg, gold ingots with a fineness of not less than 99.99%) morning session benchmark price was quoted at 1,074.67 yuan/gram, a decrease of 27.47 yuan/gram (a decline of 2.49%) compared to the previous trading day. This is significantly bearish for spot gold prices, as the sharp price drop reflects market oversupply or weak demand, potentially driven by macroeconomic factors such as a stronger U.S. dollar or reduced safe-haven sentiment.
Combined with the latest futures data, gold futures contracts (e.g., the 2606 contract closing price of 1,092.72 yuan/gram, down 28.62 yuan; the 2608 contract closing price of 1,095.82 yuan/gram, down 30.50 yuan) also declined simultaneously. Changes in open interest show reductions in some contracts (e.g., the 2606 contract open interest change of +1,789, but the overall trend remains bearish), reinforcing the downward pressure on futures prices.
The score of -2 (significantly bearish) is based on dual negative signals from both the spot and futures markets, suggesting that short-term prices may continue to face downward pressure.
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