Gold Prices Today February 2026 Rates Fall on Profit Booking
Gold prices edged lower on February 26, 2026, as investors rushed to book profits following a sharp rally that had pushed bullion to multi-week highs . Despite the pullback, the precious metal remains well-supported by geopolitical tensions, US trade policy uncertainty, and safe-haven demand .
On Comex, spot gold eased from the previous session’s high of $5,230 per ounce to $5,204 per ounce in early trade today, marking a 0.41 percent decline over the past 24 hours . Meanwhile, spot gold was trading at $5,196.01 an ounce as of 11:40 AM PST, up 0.86% on the day .
Today’s Gold Prices: Global and Domestic Rates
International Gold Prices
Benchmark Price Change
- Spot Gold $5,196.01 per ounce +0.86%
- Spot Gold (Reuters) $5,192.28 per ounce +0.4%
- Comex Gold $5,204 per ounce -0.41%
- U.S. Gold Futures (April) $5,200.50 per ounce -0.5%
According to multiple sources, spot gold was up 0.3% to 0.5% in early Asian trade, buoyed by a softer dollar and safe-haven demand . Bullion hit a more than three-week high on Tuesday, reaching $5,248.89 per ounce on February 24 .
Indian Gold Prices
City Price (per 10g, 24K)
- Mumbai ₹1,61,100*
- Delhi ~₹1,61,150
- Kolkata ~₹1,61,150
- Chennai ~₹1,61,150
*MCX futures price
In the domestic market, gold futures on MCX settled at ₹1,61,100 per 10 grams (24-carat), down 0.03 percent from the earlier close . Meanwhile, the Indian Bullion Jewellers Association (IBJA) fixed the standard gold price at ₹1,59,008 per 10 grams in the evening session .
Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs .
Read Also Here: Gold Silver Prices Today 24 February 2026
Factors Influencing Today’s Prices
1. US-Iran Talks in Focus
Iran and the US are scheduled to hold the latest round of talks in Geneva on Thursday aimed at resolving their longstanding nuclear dispute and averting new US strikes on Iran following a large-scale military buildup . Optimism over possible US–Iran talks has slightly cooled risk premium, keeping prices capped at higher levels .
Iran has expressed optimism about the third round of talks, with US envoys Steve Witkoff and Jared Kushner expected to meet with the Iranian delegation on February 26 .
2. US Trade Policy Uncertainty
Tariff policy is becoming the focal point of attention as US Trade Representative Jamieson Greer confirmed that the 10% tariff is just the beginning . Greer stated that some countries will face tariffs of up to 15% or higher, and the White House is drafting a statement to apply these temporary tariffs “where appropriate” .
These developments have added strain to trade relations with major global partners, reinforcing gold’s role as a hedge against economic and currency risks .
3. Softer US Dollar
The dollar began the day on the back foot, as better-than-expected earnings from Nvidia boosted investor confidence, while markets awaited details of the latest US tariffs on imports . A softer greenback makes dollar-denominated gold cheaper for holders of other currencies .
The rupee traded at 90.95 against the US dollar in early trade on Thursday as market participants remained cautious amid fresh uncertainty around the US trade framework .
4. Federal Reserve Rate Expectations
Markets currently expect three 25-basis-point rate cuts from the Federal Reserve this year, according to CME’s FedWatch Tool . Investors awaited the weekly jobless claims data, due later in the day, for more clues on the Fed’s monetary policy path .
Susan Collins, president of the Federal Reserve Bank of Boston, believes the Fed is likely to keep interest rates unchanged for the foreseeable future. Interest rates are currently in the range of 3.5% – 3.75% after the meeting at the end of January 2026 .
Gold Performance and Forecasts
Recent Rally
Gold prices have continued their upward trajectory, with the precious metal surging almost 20% since the beginning of the year, maintaining levels above $5,000 per ounce after a brief pullback from its late-January peak of $5,595 . Bullion approached $5,200 per ounce, marking nearly a 6% increase over the past six trading sessions .
World gold prices continued their strong upward trend on February 25, surpassing the $5,200 per ounce mark . The spot gold price increased by 1.1% to $5,202.28 per ounce, while US gold futures for April 2026 closed up approximately 1% at $5,226.20 per ounce .
JP Morgan’s $6,300 Forecast
Amid this rapid surge, JP Morgan Bank maintained its forecast on February 25 that the price of gold would reach $6,300 per ounce by the end of 2026 . The bank cited sustained demand from central banks and investors, coupled with strong capital inflows into gold exchange-traded funds (ETFs).
According to JP Morgan estimates, spot gold prices have risen by approximately 20% this year, following a projected increase of over 64% in 2025 .
Analyst Views
“Price action reflects a re-pricing of fresh policy (tariff) uncertainty, geopolitical concerns, and a subdued dollar,” said Christopher Wong, a strategist at OCBC . “Two-way consolidation is still likely in the interim as markets digest geopolitical (news), dollar moves, tariff surprises, and Fed policy uncertainty.”
Bart Melek, global commodity strategist at TD Securities, noted that tariffs and rising oil prices are having a noticeable inflationary impact .
According to Ross Maxwell, Global Strategy Operations Lead at VT Markets, the dip in gold this week reflects the market trying to balance macro headwinds and safe-haven demand . A stronger USD and near-term profit-taking can cap short-term upside.
However, structural drivers remain supportive. Central bank accumulation, geopolitical tensions, and sticky global inflation expectations continue to limit downside. If US yields stabilise rather than surge, gold can regain momentum and comfortably return above $5,200, particularly if other events create risk-off sentiment .
Silver and Other Precious Metals
Metal Price Change
- Spot Silver $88.84 per ounce -0.6%
- Spot Platinum $2,274.16 per ounce -0.5%
- Spot Palladium $1,770.05 per ounce -1.4%
Spot silver shed 0.6% to $88.84 per ounce, after climbing to a three-week high on Wednesday . Other sources reported silver at $89.29-$89.80 per ounce with slight variations .
Deutsche Bank noted a resumption of outperformance by white metals versus gold. “This is supportive for our silver forecast of $100/oz at year-end, based on a gold-silver ratio of 60,” the bank said in a note .
Spot platinum added 0.3% at $2,292.83 per ounce in some reports, while palladium lost 0.2% to $1,791.79 . Both metals hit three-week highs in the previous session.
Technical Analysis and Outlook
Gold Outlook
The combination of geopolitical tensions, trade uncertainties, and concerns over potential political influence on US Federal Reserve policy has reinforced gold’s role as a hedge against economic and currency risks . Investors continue to view bullion as a safe haven amid a multiyear bullish trend driven by fears of dollar depreciation .
According to analysts, the most recent dip looks more like consolidation than a trend reversal . A softer rupee increases domestic gold prices even when international prices dip.
Risk Factors
However, analysts also warn of the risk of a correction. If tariff proposals are eased, negotiations in Geneva cool down, or US bond yields rise again, the market could witness a rapid profit-taking sell-off from current record highs .
Volatility is expected to stay elevated given ongoing geopolitical developments, as any escalation or breakdown in talks could quickly revive safe-haven buying .
Investment Perspective
“Investors are rotating toward gold for stability, wealth preservation, and liquidity. Seasonal demand and steady ETF inflows also reinforce this narrative. Overall, USD strength may slow the pace of gains, but India’s currency dynamics and persistent global risks are likely to keep gold supported, with dips attracting buyers rather than triggering a structural shift in sentiment,” said Ross Maxwell of VT Markets .
Silver, being more industrial and volatile, reacts sharply to global growth worries, making retail participants uncomfortable during periods of uncertainty .
Conclusion
Gold prices retreated on February 26, 2026, as profit booking and a slightly softer risk premium from US-Iran talks weighed on the precious metal following sharp rallies in previous sessions. Despite today’s pullback, gold remains well-supported by geopolitical tensions, US trade policy uncertainty, and safe-haven demand.
With JP Morgan forecasting $6,300 per ounce by year-end and structural drivers remaining supportive, the near-term trajectory for gold will likely hinge on upcoming US-Iran talks, Federal Reserve policy signals, and dollar movement.
Investors should view pullbacks as potential entry opportunities while maintaining a long-term perspective, as persistent global risks are likely to keep gold supported.
Analysis by Best Pak Mag
Today’s pullback in gold prices represents a healthy consolidation rather than a trend reversal. After gold surged to three-week highs above $5,248, some profit booking was inevitable . The fact that prices are holding well above the $5,100 level suggests underlying strength remains intact.
The dollar’s modest rebound added some pressure, but the broader macro environment continues to favor precious metals. US trade policy uncertainty has increased with USTR Greer’s confirmation that 15% tariffs are coming for some countries . Geopolitical tensions with Iran remain elevated, with nuclear talks scheduled for Thursday in Geneva .
What’s particularly noteworthy is JP Morgan’s bold $6,300 forecast for year-end . If realized, that would represent another 20%+ gain from current levels, building on the nearly 20% surge already seen this year. The bank cites sustained central bank demand and strong ETF inflows as key drivers—both institutional factors that suggest the rally has structural support.
For Indian investors, the rupee-dollar dynamics add another layer. With the rupee trading near 91 against the dollar, any further weakness would cushion domestic gold prices even if international prices correct modestly .
Silver’s underperformance relative to gold is interesting—the gold-silver ratio has widened, but Deutsche Bank sees this reversing with a $100 silver target by year-end . For investors with higher risk tolerance, silver could offer leveraged upside if the bull market continues.
The key risks to watch are the Geneva talks—any breakthrough could trigger a sharp sell-off—and Fed policy signals. But for now, the path of least resistance for gold remains upward, with dips likely attracting buyers rather than signaling a structural shift.
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