Gold gains on softer dollar; Iran-US talks in focus

A gold bar marked with the letters “BTC” (out of focus) is displayed at a jewellery shop at the Al Moez Street gold market in Old Cairo as demand for gold bars and coins rises in Egypt, with buyers seeking a safer store of value amid volatile markets and economic uncertainty, traders and industry officials said, in Cairo, Egypt, February 5, 2026. REUTERS/Amr Abdallah Dalsh · Reuters

Reuters

Thu, 26 February 2026 at 10:46 am GMT+9 2 min read

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Feb 26 (Reuters) - Gold prices edged higher on Thursday, buoyed by a softer dollar and safe-haven demand fuelled by ‌uncertainty surrounding U.S. tariff policy and U.S.-Iran talks.

FUNDAMENTALS

• Spot gold ‌was up 0.3% at $5,184.43 per ounce by 0110 GMT. Bullion hit a more ​than three-week high on Tuesday.

• U.S. gold futures for April delivery were down 0.5% at $5,199.20.

• The dollar began the day on the back foot, as better-than-expected earnings from Nvidia boosted investor confidence and markets ‌awaited details of the latest ⁠U.S. tariffs on imports of foreign goods. [USD/]

• A softer greenback makes dollar-denominated gold cheaper for holders of ⁠other currencies.

• The U.S. tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, U.S. Trade Representative ​Jamieson Greer ​said on Wednesday, without naming ​any specific trading partners or ‌giving further details.

• Markets currently expect three 25-basis-point rate cuts from the Federal Reserve this year, according to CME’s FedWatch Tool. [FEDWATCH]

• Investors await the weekly jobless claims data due later in the day for more cues on the Fed’s monetary policy path.

• Iran and ‌the U.S. hold the latest round of ​talks in Geneva on Thursday aimed ​at resolving their longstanding ​nuclear dispute and averting new U.S. strikes on Iran ‌following a large-scale military buildup.

• Spot ​silver rose 0.1% ​to $89.49 per ounce, after climbing to a three-week high on Wednesday.

• Spot platinum edged 0.3% higher to $2,294.30 per ounce, while ​palladium gained 0.8% ‌to $1,809.62. Both metals reached three-week highs in the previous session.

DATA/EVENTS (GMT)

0500 Japan Leading ​Indicator Revised Dec

1000 EU Consumer Confid. Final Feb

1330 US Initial Jobless Clm 21 Feb, w/e

(Reporting by ​Ishaan Arora; Editing by Subhranshu Sahu)

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