Live Updates > Live Update Details
2026-02-13 18:42:54
[Gold Rebounds Strongly by 1%, Asian Buying Overcomes Data Pressure] ⑴ Gold rose more than 1% on Friday, rebounding from a near one-week low on Thursday, as bargain hunters entered the market. As of 18:00 Beijing time, spot gold rose 1% to $4969.85 per ounce, up 0.2% so far this week; US gold futures rose 0.9% to $4990.30. ⑵ Hamad Hussain, climate and commodities economist at Capital Economics, said that bargain hunting by Asian market participants appears to have driven the gold price rebound, with demand for gold in Asia consistently particularly strong. Demand in the Chinese market is robust as the Lunar New Year holiday approaches, while the Indian market saw its first discount in a month this week due to price volatility suppressing buying. ⑶ Gold fell about 3% on Thursday as strong US jobs data dampened expectations of interest rate cuts. Selling pressure intensified after breaking below the $5000 mark. However, independent analyst Ross Norman pointed out that these movements seem unrelated to market fundamentals, and the fundamentals of the entire precious metals sector remain positive. (4) From an allocation perspective, Asian physical demand and upward revisions of target prices by institutions are resonating. ANZ Bank raised its second-quarter gold forecast to $5,800 from $5,400 on Friday, emphasizing that gold is a safe-haven asset against uncertainty. (5) The focus going forward is entirely on tonight's US CPI data. If inflation falls more than expected, it could reignite expectations of interest rate cuts, providing further upward momentum for gold prices; if the data remains strong, the short-term rebound may face a test.
