Gold price eased on Thursday as investors opted to book profits following strong gains in the previous trading session. However, ongoing geopolitical tensions and weakness in the US dollar helped cushion the downside.
In the earlier session, the April gold futures contract climbed 0.74 per cent, while the March silver contract surged 3 per cent. The sharp rally prompted traders to secure profits, leading to a mild correction in bullion prices.
US Dollar Weakness Supports Gold
The US dollar remained under pressure amid persistent trade-related uncertainty. Conflicting stances on tariffs between the US Supreme Court and US President Donald Trump have kept markets cautious. Trump has reaffirmed that tariffs continue to be a key pillar of his trade strategy.
Currently, the US maintains a 10 per cent tariff on select imports, with certain rates expected to rise to 15 per cent or higher. The evolving trade landscape has added to global economic uncertainty.
The dollar index slipped 0.13 per cent to 97.58, making gold — which is priced in dollars — more affordable for international buyers and thereby limiting further declines.
Geopolitical Risks Boost Safe-Haven Demand
Analysts noted that rising US-Iran tensions are also lending support to gold. A third round of nuclear negotiations is scheduled to take place in Geneva on February 27, while reports of increased US military presence in the Middle East have further strengthened safe-haven demand.
Market experts expect heightened volatility in the coming sessions. Investors have been advised to book profits at elevated levels and consider fresh buying opportunities during price corrections.
Gold Rates in Major Indian Cities (February 26)
Gold prices in India also reflected the global trend, with rates easing across key metropolitan cities.
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Gold Price in Delhi (Per Gram)
24 Karat – ₹16,183
22 Karat – ₹14,835
18 Karat – ₹12,141
Gold Price in Chennai (Per Gram)
24 Karat – ₹16,277
22 Karat – ₹14,920
18 Karat – ₹12,765
Gold Price in Bengaluru (Per Gram)
24 Karat – ₹16,168
22 Karat – ₹14,820
18 Karat – ₹12,126
Gold Price in Mumbai (Per Gram)
24 Karat – ₹16,168
22 Karat – ₹14,820
18 Karat – ₹12,126
Gold Price in Pune (Per Gram)
24 Karat – ₹16,168
22 Karat – ₹14,820
18 Karat – ₹12,126
Gold Price in Kolkata (Per Gram)
24 Karat – ₹16,168
22 Karat – ₹14,820
18 Karat – ₹12,126
Market participants will continue to track currency movements, geopolitical developments, and global trade updates for further direction in gold prices.