黄金、白银，触底反弹！

Core Viewpoint - International precious metal futures prices experienced a significant decline, with COMEX gold futures dropping by 2.33% to $4896.10 per ounce and COMEX silver futures falling by 3.93% to $73.55 per ounce on February 17, 2026. However, on February 18, 2026, both gold and silver prices rebounded strongly in the Asian market, with gold rising by 1.30% to $4941.18 per ounce and silver increasing by 2.94% to $75.67 per ounce [1][2][4]. Price Movements - On February 17, 2026, spot gold fell by 2.33% to $4878.89 per ounce, while spot silver decreased by 4.16% to $73.50 per ounce [1]. - By February 18, 2026, spot gold was reported at $4941.18 per ounce, reflecting a daily increase of 1.30%, and spot silver was at $75.67 per ounce, showing a rise of 2.94% [2]. Market Analysis - Analysts attribute the decline in gold and silver prices to a reduction in safe-haven investments due to easing geopolitical tensions and a rising U.S. dollar index. Additionally, the lack of liquidity in the market, caused by several major markets being closed for traditional holidays, amplified price volatility [4]. - The expectation of a slowdown in interest rate cuts by the Federal Reserve has created resistance for gold prices around the $5000 mark, with some investors taking profits, further increasing downward pressure on prices [4]. Future Price Predictions - ANZ Bank forecasts that gold prices may reach $5800 per ounce in the second quarter of 2026, while UBS has a more aggressive prediction of a peak at $6200 per ounce by mid-year, driven by central bank and investment demand, expanding fiscal deficits, declining U.S. real interest rates, and geopolitical risks [4]. - Jefferies has revised its 2026 gold price forecast from $4200 to $5000, emphasizing the impact of inflation and dollar depreciation on investor behavior [4]. Market Sentiment - Analysts from Vantage Markets highlight that gold continues to show resilience structurally, with effective technical support despite a stable macro environment [5]. - HSBC's chief precious metals analyst notes that while gold is considered a safe-haven asset, price volatility is expected to be a significant characteristic of the precious metals market in 2026 [5].