Gold price today, Monday, February 2: Gold slides over 5%

Group 1: Current Gold Market Overview - Gold futures opened at $4,490 per troy ounce on Monday, down 5.4% from Friday's closing price of $4,745.10, with a week-over-week decline of over 11% [1] - Despite the current sell-off, gold prices are still up nearly 60% compared to the same time last year [1] - The one-year gain for gold was reported at 95.6% on January 29 [3] Group 2: Stock Market Context - S&P futures are down 0.3%, Dow Jones futures are down 0.04%, and Nasdaq 100 futures are down 0.6% [1] - The S&P 500 is experiencing double-digit earnings growth for the fifth consecutive quarter [2] Group 3: Gold Price Dynamics - Gold prices can be quoted in multiple forms, primarily as spot prices and gold futures prices [5] - The spot price is the current market price per ounce for physical gold, while gold futures are contracts for future transactions at a specific price [7] - The spot price is generally lower than the retail price due to additional costs like the gold premium [6] Group 4: Influencing Factors on Gold Prices - Factors affecting gold prices include geopolitical events, central bank buying trends, inflation, interest rates, and mining production [11]