Gold Market Report: February 18, 2026
The gold market opened today with a spot price of approximately $4,880 per ounce, reflecting a sharp decline over recent sessions. At the close, the price settled at $4,867.10 per ounce, down $168 or 3.35% from the previous day. This marks a continuation of a downward trend observed over the last two days, influenced by various macroeconomic factors and trading dynamics.
Key Data Points
Today’s trading saw gold reaching a daily high of $4,888.96 and a low of $4,867.10, with a notable percentage change of -3.35%. The trading volume was particularly thin due to the closure of the Shanghai Gold Exchange in observance of the Lunar New Year, which is expected to last until February 23. In India, MCX Gold prices stood at ₹74,500 per 10 grams, down ₹1,800 from the previous closing.
Analysis of Market Drivers
Several factors are impacting gold prices this week. Primarily, softer U.S. inflation figures have led to speculation about potential interest rate cuts by the Federal Reserve. Although Fed Governor Michael Barr mentioned that rates might stay steady for some time, the market is anticipating possible cuts if inflation continues to trend towards the 2% target. Such expectations typically bolster gold prices; however, the current scenario is complicated by a stronger U.S. dollar, which has risen by 0.2% this week, making gold more expensive for buyers using other currencies.
The closure of the Shanghai Gold Exchange, which is a major hub for physical gold demand, has created a “liquidity vacuum.” This situation has heightened the market’s reliance on U.S. macroeconomic data, adding to the volatility. Analysts suggest that the current dip may offer a tactical buying opportunity, especially for those looking to capitalize on potential price rebounds when Asian markets reopen.
Moreover, the rebound in equity markets is reducing the safe-haven allure of gold. As stocks recover, investors are reallocating funds away from gold, further pressuring prices. In India, currency fluctuations, particularly the volatility of the rupee, continue to play a significant role in gold pricing.
Outlook and Considerations
Looking ahead, the gold market may experience continued volatility as traders respond to evolving economic indicators and central bank policies. While the immediate outlook points towards a cautious market environment, the underlying fundamentals, such as central bank purchases and global economic uncertainties, provide a supportive backdrop for gold in the longer term.
Investors should remain informed about upcoming economic releases and central bank announcements, as these could significantly influence gold’s trajectory. As always, it is essential to remember that past performance is not indicative of future results, and market conditions can change rapidly.
Disclaimer: This report is for informational purposes only and does not constitute financial advice. Readers should perform their own research and consult with a financial advisor before making investment decisions.
Silver Market Comparison
In comparison to gold, silver experienced a sharper decline, with spot prices falling to $72.44 per ounce, down 6.25% on the day. This disparity highlights gold’s relative stability as a safe-haven asset, even as industrial metals face more pronounced weaknesses.
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Sources: Moneycontrol, USAGold, JM Bullion
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