Gold Prices Remain Stable as Major Uncertainty Looms
Gold and silver prices have remained relatively stable, showing little movement and currently trading in a sideways pattern. This stability is attributed to market participants awaiting the outcome of nuclear talks between the United States and Iran.
On Thursday, February 26, 2026, global gold prices rose by 0.31% to US$5,186.86 per troy ounce. Gold prices have experienced slight gains for two consecutive days and are currently consolidating.
As of 06:34 WIB on Friday, February 27, 2026, global gold prices in the spot market have weakened by 0.09% to US$5,182.02 per troy ounce.
Gold prices remained relatively unchanged on Thursday as investors remained cautious ahead of the third round of indirect nuclear talks between the US and Iran in Geneva, hoping for signals that the negotiations could ease geopolitical tensions.
“Gold and silver attempted to break through resistance levels of US$5,200 and US$90 per troy ounce but failed to sustain gains this week, increasing the risk of a decline if a short-term geopolitical agreement is reached,” according to a note from Razan Hilal, market analyst at FOREX.com.
“The United States and Iran could reach a framework agreement if Washington separates nuclear and non-nuclear issues,” a senior Iranian official told Reuters, adding that the remaining differences need to be narrowed during the third round of talks in Geneva.
“There is a lot of interest in how this third round of talks will go. But regardless, I think there is still a lot of uncertainty out there,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Gold, which does not yield returns, is seen as a safe haven during times of geopolitical and economic uncertainty.
Grant said he still expects the market to rise to US$5,340.72 per troy ounce and then to US$5,400 per troy ounce, although some short-term declines may occur.
US tariffs on some countries will increase to 15% or higher from the recently implemented 10%, according to US Trade Representative Jamieson Greer on Wednesday, without mentioning specific trading partners or providing further details.
Meanwhile, the number of Americans filing new claims for unemployment benefits increased slightly last week, and the unemployment rate appears to be stable in February amid a stable labor market.
The market continues to expect two interest rate cuts this year by the US Federal Reserve (The Fed).