Global Gold Prices Remain Stable as Markets Await US-Iran Nuclear Negotiations Results
NEW YORK — Global gold prices remained relatively stable at the close of trading on Thursday, 26 February 2026, as market participants chose to hold positions ahead of the third round of indirect nuclear negotiations between the United States and Iran in Geneva.
Gold prices in the spot market were recorded at $5,168.72 per ounce. Meanwhile, US gold futures contracts for April delivery closed down 0.6 per cent at $5,194.20 per ounce.
Market analyst Razan Hilal from Forex.com stated that gold and silver briefly attempted to breach resistance levels of $5,200 and $90 per ounce respectively. However, these gains failed to sustain throughout the week.
“This increases the risk of gold price correction should a short-term geopolitical agreement be reached,” Hilal noted.
Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals, observed that markets were keenly anticipating the outcome of the third round of negotiations. Nevertheless, he perceived that global uncertainty remained quite elevated.
“There is considerable interest in how this third round of talks will proceed. However, regardless of that, I believe global uncertainty remains quite significant at present,” Grant stated.
According to Grant, whilst near-term correction potential exists, the gold trend still has upside prospects. He estimated gold prices could rise to levels between $5,340.72 and $5,400 per ounce.
On the trade policy front, US Trade Representative Jamieson Greer announced that American import tariffs for several nations would increase to 15 per cent or higher, up from the previously set tariff of 10 per cent. However, he did not specify which countries would be affected.
Market participants currently anticipate that the US Federal Reserve will cut interest rates twice during the year.
In other precious metals markets, spot silver prices declined 2.5 per cent to $87.14 per ounce. Platinum prices fell 2.2 per cent to $2,236.37 per ounce, whilst palladium weakened 1.9 per cent to $1,761.05 per ounce.