Global Gold Prices Rise Amid Geopolitical Tensions and US Tariffs
Gold prices rose as market participants monitored geopolitical tensions in the Middle East and the impact of US tariffs on global trade.
Quoted from Bloomberg, Thursday (26/2/2026), the price of gold bullion approached the level of 5,200 US dollars per troy ounce, after jumping almost 6 percent in the last six sessions.
The increase in gold prices occurred amid the deployment of US troops in the Middle East, which made global markets wary.
At the same time, Washington imposed sanctions on more than 30 entities that support the sale of oil and weapons to Iran.
In addition to geopolitical factors, US trade policy also influenced the movement of global gold prices. US President Donald Trump continued his efforts to maintain his tariff agenda, which added to tensions with trading partners.
US Trade Representative Jamieson Greer stated that Trump would sign a directive to raise global tariffs to 15 percent “if necessary”.
Previously, an import tariff of 10 percent came into effect on Tuesday after the Supreme Court overturned Trump’s reciprocal tariff policy.
According to him, two-way consolidation is still possible because the market is digesting the latest developments, including the Federal Reserve (The Fed) policy and the movement of the US dollar. The US dollar index was down 0.1 percent on Thursday, after previously weakening 0.2 percent.
Throughout this year, global gold prices have strengthened by almost 20 percent. The precious metal has returned to staying above 5,000 US dollars per troy ounce after previously correcting sharply for two days from a record of 5,595 US dollars at the end of January.
Ongoing geopolitical and trade tensions are seen as further strengthening the long-term upward trend. This condition also reinforces the strategy of weakening the US dollar, namely when investors shift funds from US currency and government bonds.
In addition, concerns about government intervention in The Fed’s policy also supported global gold prices. In a farewell essay before retiring, Atlanta Fed President Raphael Bostic wrote that he was concerned that the American public was starting to question the independence of the central bank.
In spot trading, gold prices rose 0.6 percent to 5,193.79 US dollars per troy ounce at 12.48 Singapore time. Silver prices rose 0.1 percent to 89.32 US dollars. Platinum strengthened, while palladium weakened.
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