Fundamentals - Spot gold rose 0.2% to $4,886.69 per ounce after declining more than 2% to a more than one-week low on Tuesday [1][9] - U.S. gold futures for April delivery remained steady at $4,904.50 [1][9] - A stronger dollar makes gold more expensive for holders of other currencies [4][10] - Markets expect three 25-basis-point Fed rate cuts this year, which typically benefits non-yielding bullion [6][10] - Spot silver fell 0.8% to $72.86 per ounce after dropping over 4% in the last session [7][10] - Spot platinum gained 0.9% to $2,025.80 per ounce, while palladium added 0.5% to $1,690.54 [7][10] Market Conditions - Mainland Chinese, Hong Kong, Singapore, Taiwan, and South Korea markets are closed for the Lunar New Year holidays, leading to low trading volumes and potential volatility [5][10] - Geopolitical risks are keeping markets on edge as investors await the Federal Reserve's January meeting minutes for insights into future rate cuts [10] Economic Indicators - Chicago Fed President Austan Goolsbee indicated that the Fed could approve "several more" rate cuts this year if inflation declines to the central bank's 2% target [5][10] - Recent weak consumer price reports may mask strong service price increases [5][10]
Gold rises on dip-buying after more than 2% drop
The Economic Times·2026-02-18 02:09