Gold prices showed a mild rebound today amid ongoing volatility, trading around $4,900–$4,930 per ounce globally after recent dips influenced by a stronger US Dollar and reduced activity during China's Lunar New Year holiday.
Global Spot Price — Spot gold recovered slightly to approximately $4,915–$4,930 per ounce (up ~0.7–0.8% in some sessions), snapping a short losing streak. Prices dipped toward $4,870 earlier due to holiday-thinned liquidity but found support from dip-buying and reassessed Fed policy expectations.
Key Drivers — China's week-long Lunar New Year holiday (through February 23) has dented physical demand and trading volumes on the Shanghai Gold Exchange, creating a temporary "liquidity vacuum." Despite this, structural support remains from robust Chinese retail/investment buying earlier in 2026, central bank purchases, and safe-haven flows amid geopolitical uncertainties. Speculative activity in China has fueled prior rallies, but holiday closures contributed to the recent pullback.
Technical Outlook — Price action remains corrective after January's record highs near $5,600+. Key support at $4,850–$4,880; resistance near $4,950–$5,000. A hold above $4,900 could signal stabilization, while renewed dollar strength risks further consolidation.
4.In China — Local gold rates track global trends closely, with 24K gold around ¥1,090–¥1,120 per gram (or equivalent in yuan per ounce ~¥33,900–¥34,000), reflecting minor premiums amid holiday subdued demand and yuan dynamics.
Short-term View — Holiday-reduced liquidity likely caps big moves, with mild rebound intact but volatility high. Await US data (e.g., Fed minutes) and post-holiday resumption of Chinese buying for direction. Long-term bullish bias persists — driven by China's strong consumer/investment demand, de-dollarization trends, and global uncertainties.
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