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Gold Prices Correct on Tuesday Morning (Feb 17)
Gold prices declined in Tuesday morning trading (Feb 17, 2026). As of 08:00 WIB, gold futures for April 2026 delivery on the Commodity Exchange were trading at US$4,988.60 per troy ounce, down 1.14% from the previous session’s level of US$5,046.30 per troy ounce.
Despite the correction, gold remained just below the key US$5,000 per ounce threshold. The pullback came as most Asian markets were closed for the Lunar New Year holiday, following the U.S. national holiday on Monday, resulting in thinner trading activity.
Gold had strengthened last Friday after U.S. inflation data showed moderate increases, reinforcing expectations that the Federal Reserve could move toward interest rate cuts — a factor that typically supports gold demand.
According to Bloomberg, major global banks including BNP Paribas SA, Deutsche Bank AG, and Goldman Sachs Group Inc. expect gold prices to rebound. The outlook is supported by ongoing geopolitical tensions, concerns over Federal Reserve independence, and investor shifts away from currencies and government bonds.
“We continue to see two key macro drivers supporting gold prices — inflation and a weaker dollar,” said analysts at Jefferies, including Fahad Tariq, in a research note.
They have raised their gold price forecast for this year to US$5,000 per troy ounce, up from a previous projection of US$4,200 per troy ounce.