Gold Safe Haven

Gold Holds Gains as Safe-Haven Demand Persists Ahead of US-Iran Talks

Gold prices remain firm during Thursday’s European session, supported by ongoing safe-haven flows ahead of the highly anticipated US-Iran negotiations in Geneva. However, buyers appear cautious, waiting for a sustained move above the $5,200 psychological level before initiating fresh bullish positions.

Gold Technical Analysis: XAU/USD Maintains Bullish Bias

On the daily chart, XAU/USD is trading at $5,187.14, maintaining a mildly bullish short-term outlook. The precious metal continues to hold above the 21-day Simple Moving Average (SMA) near $5,020 and the 50-day SMA around $4,775. Meanwhile, the upward-sloping 100-day and 200-day SMAs remain well below current price levels, reinforcing the broader uptrend.

Momentum indicators also favor the bulls. The Relative Strength Index (RSI) stands at 59, remaining in positive territory without entering overbought conditions. This suggests buyers retain control after digesting April’s extended rally.

Gold is also trading above the 61.8% Fibonacci retracement level at $5,141, measured from the $4,401–$5,598 rally. This indicates that the recent pullback remains within a healthy corrective phase.

Key Support Levels

• Immediate support: $5,141 (61.8% Fibonacci retracement)

• Secondary support: $5,000 (50% retracement and 21-day SMA cluster)

• Next downside pivot: $4,859 (38.2% retracement)

Key Resistance Levels

• Near-term resistance: $5,240 (recent local high)

• Breakout target: $5,342 (78.6% retracement level)

• Major resistance: $5,598 (previous peak)

A daily close above $5,240 could pave the way toward $5,342. A sustained move beyond that level would reaffirm the broader bullish trend and bring the $5,598 high back into focus.

US Dollar Under Pressure Amid Risk Optimism

The US Dollar (USD) remains under pressure against major currencies after strong earnings from chip giant NVIDIA Corporation boosted global risk appetite, reducing demand for traditional safe-haven assets like the Greenback.

Additional pressure stems from persistent uncertainty surrounding US trade policy and fresh selling in USD/JPY. US Trade Representative Jamieson Greer stated Wednesday that tariffs on certain countries could rise to 15% or higher, up from the recently implemented 10%, though no further details were provided.

Meanwhile, the Japanese Yen continues to strengthen following comments from Kazuo Ueda, Governor of the Bank of Japan, who signaled that March and April meetings could be active for policy decisions. BoJ board member Hajime Takata also emphasized that the central bank should continue gradual rate hikes.

Geopolitical Risks Support Gold Ahead of US-Iran Talks

Gold is also benefiting from rising geopolitical tensions between the United States and Iran, as both nations meet in Geneva for the third round of negotiations.

Ahead of the talks, US Secretary of State Marco Rubio stated that Iran’s refusal to discuss ballistic missile issues remains a significant obstacle.

At the same time, dovish expectations surrounding potential rate cuts from the Federal Reserve continue to support non-yielding assets like gold, despite recent hawkish rhetoric from policymakers.

Market Outlook: Focus on US Data and Diplomatic Developments

Traders are closely monitoring geopolitical headlines and upcoming US Initial Jobless Claims data for fresh direction.

If the US-Iran negotiations conclude without a meaningful agreement on Iran’s nuclear program, markets could interpret the outcome negatively. A disappointing result may increase speculation about potential US military action, further boosting safe-haven demand and potentially driving gold prices higher.

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Gold Above $5,150

  

Gold Holds Above $5,150 as Trump’s State of the Union Speech Fuels Safe-Haven Demand

Gold prices remain firm above the $5,150 level after rebounding from the previous session’s pullback from monthly highs. The precious metal attracted renewed buying interest as traders evaluated President Donald Trump’s State of the Union address, with ongoing trade uncertainty and rising geopolitical risks supporting demand for the traditional safe-haven asset.

Technical Analysis: Bullish Momentum Remains Intact

From a technical perspective, gold maintains a strong bullish bias. The 21-day Simple Moving Average (SMA) has crossed above the 50-day, 100-day, and 200-day SMAs, with all slopes trending upward — a clear confirmation of sustained upside momentum.

Price action continues to hold above these key trend indicators, with the 21-day SMA at $5,029.61 providing dynamic near-term support. Meanwhile, the 14-day Relative Strength Index (RSI) stands at 59.50, slightly above the midpoint, reinforcing steady bullish momentum without signaling overbought conditions.

Measured from the swing high of $5,597.89 to the low of $4,401.99, gold is stabilizing between the 61.8% Fibonacci retracement at $5,141.05 and the 78.6% retracement at $5,341.96. The latter level is currently capping upside movement.

A daily close above the 78.6% retracement could open the path toward a retest of previous highs. However, rejection at this level may trigger a corrective pullback toward the 50-day SMA at $4,742.30. As long as prices respect short-term moving averages, the near-term outlook favors continued consolidation within the retracement range before a decisive breakout.

US Dollar Stabilizes as Asian Markets Reopen

With Chinese and Japanese markets reopening, liquidity has returned to global markets, allowing the US Dollar (USD) to stabilize. Risk sentiment improved modestly after recent volatility driven by renewed tariff confusion linked to President Trump.

Over the weekend, tariff-related uncertainty triggered a “Sell America” trade, undermining investor confidence. Wall Street extended losses on Monday amid lingering concerns over trade policy, escalating geopolitical tensions, and caution ahead of Nvidia’s earnings report scheduled for Wednesday.

Gold paused its four-day rally due to the moderate USD rebound, briefly testing critical support near $5,142 after retreating from monthly highs.

Trade Uncertainty and Geopolitical Risks Support Gold

Markets remain highly sensitive to tariff headlines. The Wall Street Journal reported Tuesday morning that the Trump administration is considering new national security tariffs on several industries, following last Friday’s Supreme Court ruling that overturned many tariffs from Trump’s second term.

In addition to trade tensions, geopolitical risks remain elevated as tensions between the United States and Iran continue to intensify.

Furthermore, expectations for at least two Federal Reserve rate cuts this year continue to provide underlying support for gold prices. Lower interest rate expectations typically weaken the dollar and enhance the appeal of non-yielding assets like gold.

Gold is also supported by strong physical investment demand from India, even as prices hover near record highs, according to Money Metals Exchange.

Gold Price Outlook

Overall, gold remains well-supported above the $5,150 area amid trade uncertainty, geopolitical risks, and expectations of Fed rate cuts. Unless a strong USD rally emerges, dips are likely to remain limited as investors continue seeking protection in safe-haven assets.

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Gold Tariff Rally

Gold Hits Three-Week High on Trump Tariff Uncertainty

Gold prices surged to their highest level in three weeks on Monday (February 23, 2026), driven by rising safe-haven demand amid renewed uncertainty over U.S. tariff policy under President Donald Trump and the future direction of U.S. interest rates.

Spot gold climbed nearly 2% to US$5,206.39 per ounce at the close of the U.S. session, after touching its strongest level since late January. Meanwhile, U.S. gold futures for April delivery advanced 2.8% to settle at US$5,225.60 per ounce.

The rally followed Trump’s announcement that he would raise import tariffs after the Supreme Court of the United States previously struck down much of his earlier tariff policy. Over the weekend, Trump confirmed a temporary tariff increase on all U.S. imports from 10% to 15% — the maximum level allowed by law.

The move sparked fresh concerns across global markets, particularly regarding its potential impact on inflation and economic growth.

“Global economic and political uncertainty remains elevated. With market activity returning to normal after the Lunar New Year holiday, gold has greater room to strengthen,” said Jeffrey Christian, Managing Partner at CPM Group.

From a macroeconomic perspective, the latest data showed that core U.S. inflation rose more than expected in December, while economic growth slowed sharply in the fourth quarter. This combination could prompt the Federal Reserve to keep interest rates higher for longer — a factor that typically limits gold’s upside potential.

However, ongoing geopolitical tensions and policy risks are seen as strong enough to continue supporting bullion prices.

Investors are also watching for the reopening of mainland China’s markets on Tuesday following the Lunar New Year holiday. As the world’s largest gold consumer, China’s return is expected to boost liquidity and potentially add further demand momentum.

Beyond gold, spot silver jumped 3.2% to US$87.23 per ounce, marking its highest level in more than two weeks. Platinum slipped 0.7% to US$2.140.75 per ounce, while palladium edged up 0.1% to US$1,750.53 per ounce.

Overall, the gold rally reflects a renewed defensive stance among investors, with U.S. tariff developments and global interest rate expectations likely to remain key drivers of price movements in the near term.

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Antam Gold Surges

  

Antam Gold Climbs, Hits Rp3,028,000 per Gram at Start of Week

Gold prices in Indonesia continued their upward trend as Antam gold bars posted fresh gains at the start of the week. On Monday, February 23, 2026, the price of gold produced by PT Aneka Tambang Tbk (Antam) surged by Rp16,000 to reach Rp3,028,000 per gram, according to official data from Logam Mulia.

Buyback Price Also Increases

The rally was not limited to selling prices. The buyback price—the rate at which Antam repurchases gold from customers—also climbed Rp20,000, rising from Rp2,793,000 to Rp2,813,000 per gram.

This means investors looking to sell their gold holdings can now secure higher returns compared to the previous trading session.

Still Below All-Time High

Despite the ongoing bullish momentum, current gold prices remain below the all-time high of Rp3,168,000 per gram, recorded on January 29, 2026. Market participants continue to monitor global gold trends and domestic demand for further direction.

Latest Antam Gold Prices (February 22–23, 2026)

Price adjustments apply across all denominations. Here is the updated list of Antam gold prices:

• 0.5 gram: Rp1,564,000

• 1 gram: Rp3,028,000

• 2 grams: Rp5,996,000

• 5 grams: Rp14,915,000

• 10 grams: Rp29,775,000

• 25 grams: Rp74,312,000

• 50 grams: Rp148,545,000

• 100 grams: Rp297,012,000

• 250 grams: Rp742,265,000

• 500 grams: Rp1,484,320,000

• 1,000 grams: Rp2,968,600,000

Larger Denominations in Focus

For investors seeking bulk purchases, the 10-gram bar is priced at Rp29,775,000, while the 25-gram bar stands at Rp74,312,000. The largest 1,000-gram bar is now valued at nearly Rp2.97 billion, reflecting sustained strength in the domestic gold market.

With gold prices trending upward, Antam bullion continues to attract both short-term traders and long-term investors looking for a hedge against global economic uncertainty.

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Antam Gold Climb

 

Gold Prices Near Rp 3 Million Ahead of Ramadan and Eid

Gold bar prices from PT Antam Tbk (ANTM) surged again on Friday, February 20, 2026, supported by stronger global gold prices and rising investor interest ahead of Ramadan and Eid al-Fitr.

According to data from the Logam Mulia website, Antam gold bullion prices jumped by Rp 28,000 to reach Rp 2,944,000 per gram. A day earlier, on Thursday (Feb 19), prices had already climbed Rp 4,000 to Rp 2,916,000 per gram.

As Ramadan and Eid approach, market participants are closely monitoring the potential increase in domestic gold demand. Seasonal momentum is widely expected to boost buying interest, particularly as consumers traditionally increase purchases ahead of major holidays.

Lukman Leong, Chief Analyst at Doo Financial Futures, said the seasonal trend could push local demand higher. He noted that public interest in gold typically rises before festive celebrations.

Domestic demand could lift Antam prices further, with local prices projected to increase by around 1%–3% in the one to two weeks leading up to the holidays, he told Kontan on Thursday (Feb 19).

However, Lukman emphasized that local demand alone may not be strong enough to push Antam gold prices past Rp 3 million per gram in the near term. A rise of roughly 11% from current levels would require stronger external drivers.

He added that Antam’s price movements remain heavily influenced by global gold market trends. Over the next month, international gold prices are expected to trade between US$5,100 and US$5,300 per troy ounce, barring major geopolitical developments such as a potential peace agreement involving Iran that could shift market sentiment.

Based on this outlook, global gold prices could increase by about 3%–6% from current levels, combined with an estimated domestic premium of around 2%.

As a result, Antam gold prices toward the end of Ramadan are projected to be 5%–8% higher than current levels, potentially ranging between Rp 2.8 million and Rp 2.9 million per gram.

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Freeport Mining Extension

  

Freeport Secures Agreement with Indonesia to Extend Mining Rights

Freeport-McMoRan Inc. (NYSE: FCX) has signed a Memorandum of Understanding (MOU) with the Indonesian government to extend the operating rights of its subsidiary, PT Freeport Indonesia (PTFI), in the Grasberg minerals district, according to a company statement released Thursday. The mining giant — whose shares have surged over the past year — continues to strengthen its position as a major global player in the metals and mining industry.

The agreement outlines terms to amend PTFI’s special mining license, granting a resource-life extension beyond its current expiration in 2041. Under the arrangement, Freeport will retain a 48.76% ownership stake in PTFI through 2041. After that, the company will transfer a 12% stake to Indonesian government interests at no cost, reducing its ownership to approximately 37% from 2042 onward.

The MOU also includes provisions for enhanced community support initiatives in Papua. These commitments involve funding a new hospital and two medical education facilities, alongside increased exploration spending and accelerated studies for long-term resource development.

For investors seeking deeper insights into the financial health of Freeport-McMoRan, comprehensive research reports and analytical tools provide data-driven intelligence to support informed investment decisions.

In addition, PTFI will continue prioritizing domestic processing of copper and other minerals while positioning itself to potentially supply refined copper to the United States under market-based conditions if required.

“Grasberg operations have delivered substantial benefits to all stakeholders over six decades, and this extension creates opportunities to build further value at one of the world’s most significant copper and gold deposits,” said company leadership in an official release.

The extension remains subject to approval through amended mining permits issued by the Indonesian government. PTFI plans to finalize its application reflecting the agreed terms in the near term.

Freeport-McMoRan operates major copper, gold, and molybdenum assets worldwide, including the renowned Grasberg minerals district in Indonesia, as well as significant operations across North and South America.

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