Gold is gaining safe-haven demand amid weak U.S. jobs data, rising oil prices, and geopolitical tensions, which are increasing market uncertainty and keeping prices supported above the key $5,000 level.
Gold began the week on the defensive while Dollar strengthened broadly across currency markets, as the Middle East conflict has entered its second week with no meaningful signs of de-escalation. The metal is now showing signs of fragility near 5,000 psychological level, which is significant due to positioning in the options market.
Gold slumps to near $5,050 on oil-driven inflation fears, stronger US Dollar
Gold's advance stalled after a brief geopolitical spike pushed prices into resistance, with the market reversing sharply earlier in the week before stabilizing into the close. Although XAU/USD has managed to recover part of the initial drop, the failure to secure a sustained break above resistance leaves the broader rally at an inflection point.
Is anyone really surprised? China has arguably the biggest buyer out there for a while now.
Gold is consolidating near the 20-day moving average after a rising wedge breakout, testing critical support levels while a sharp correction hints at further potential downside.
United States CFTC Gold NC Net Positions increased to $160.1K from previous $159.2K
The gold market tried to rally this past week but couldn't keep up the momentum. At this point, we could see a pullback, but that could end up being a buying opportunity.
Gold prices are moving higher as traders react to economic reports and geopolitical developments.
Markets are highly vulnerable to significant disruptions in the coming weeks, which could trigger a liquidity event or broader systemic shock that temporarily pulls precious metals lower.
Gold prices face pressure as rising oil fuels inflation fears and the Fed delays rate cuts. Traders watch policy signals for the next move in XAU/USD.
The prior 4 weeks of positive returns seen in Gold (XAU/USD) from the week of 2 February 2026 to the week of 23 February 2026, where the precious yellow metal staged an accumulated gain of 20% (low to close during the 4 weeks).