17/02/2026
Gold is currently trading at approximately $4 920,00/oz, reflecting a 1,4% decline from yesterday’s close and amid fluctuations over the past month following a sharp drop earlier in February.
Key Market Drivers:
1. U.S. Economic Data: Stronger-than-expected jobs figures have shifted Federal Reserve rate-cut expectations from June to July, bolstering the dollar and pressuring non-yielding assets like gold. The nomination of Kevin Warsh as Fed Chair signals a potentially hawkish stance, further strengthening the USD.
2. Geopolitical Factors: Escalating tensions in US relations with Venezuela, Greenland, and Iran, alongside ongoing Ukraine-Russia conflicts and de-dollarization efforts, maintain safe-haven demand, though some profit-taking has eased immediate flows.
3. Demand Dynamics: Central bank and investor demand remains strong, with recent quarterly purchases around 980 tonnes and ETF inflows surging amid uncertainty, underscoring structural support despite short-term corrections.
Points to Watch at Market Close (Tuesday) and Wednesday Open:
1. Tuesday Close: Monitor U.S. equity closes and dollar index (DXY) movements for risk-off signals; any geopolitical headlines could trigger volatility. A close below $4 900,00/oz may signal extended consolidation, while above $4 950,00/oz could preserve upside momentum.
2. Wednesday Open (18 Feb): Early flows influenced by overnight developments (e.g., updates on US-Iran talks or Fed rhetoric) and Asian demand indicators. Key support at $4 860,00/oz; watch for rebound cues toward $5 000,00/oz if dollar weakens. No major data releases, but sentiment will hinge on global risk appetite.
These levels offer tactical entry opportunities for hedging amid ongoing uncertainty. What are your thoughts?