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2026-02-19 20:47:06
[US-Iran Tensions Fuel Safe-Haven Demand, Gold Prices Approach $5,000] ⑴ Gold prices continued their upward trend on Thursday, further approaching the $5,000 mark. The previous trading day saw a gain of over 2%, primarily driven by safe-haven flows triggered by ongoing geopolitical tensions between the US and Iran. As of press time, spot gold was up 0.2% at $4,989.09 per ounce. ⑵ The White House stated on Wednesday that some progress had been made in the Iran talks held in Geneva this week, but significant differences remained between the two sides on some issues. Analysts pointed out that if the US takes military action against Iran, it could last for weeks, making geopolitical concerns a market focus. It is understood that the US National Security Advisor has been instructed that all military forces deployed to the Middle East should be in place by mid-March. ⑶ Meanwhile, investors are assessing the Federal Reserve's policy path. The minutes of the January meeting showed that policymakers were largely united on interest rates, but differed on the next steps: some officials were willing to support rate hikes if inflation remained high, while others preferred further rate cuts when inflation subsided. (4) The market will focus on today's initial jobless claims data and Friday's personal consumption expenditures report for policy clues. The market currently expects the first rate cut this year to occur in June.
