Profit-taking pressured gold and silver prices lower.
2026-02-26 22:16:24
Gold and silver prices both fell during the early trading session on Thursday (February 26), with silver leading the decline again. Both commodities had previously recorded gains, initiating a short-term upward trend, but profit-taking by short-term futures traders is currently the dominant market factor. April gold futures fell $42.20 to $5184.40 per ounce, while March silver futures fell $4.878 to $86.245 per ounce.
The US and Iran begin their third round of nuclear negotiations.
The United States and Iran launched their third round of nuclear talks in Geneva, Switzerland, just days before President Trump's deadline for an agreement. Tensions between the two sides over Iran's nuclear activities have persisted for months. The talks were mediated by Oman at its embassy in Geneva. Iranian Foreign Ministry spokesman Esmail Bagheei told Iranian state television on the sidelines of the negotiations in Switzerland, "Iran comes to the talks with sufficient pragmatic flexibility. The peaceful use of nuclear energy is a legitimate right recognized by the international community." Trump set a window of March 1-6 for an agreement with Iran and threatened military action if Iran fails to comply, raising concerns in the market about a new war in the Middle East that could potentially involve Israel and the Gulf Arab oil-producing countries.
Russia launches large-scale drone and missile attacks on Ukraine
Just hours after Ukrainian President Volodymyr Zelensky and President Donald Trump discussed possible follow-up actions to the peace talks, Russia launched a large-scale drone and missile attack on Ukraine. Zelensky posted on Telegram today, which Bloomberg reprinted, stating that Russian forces attacked eight Ukrainian regions, deploying 420 drones and 39 missiles, injuring dozens of people, including children. Energy infrastructure in the Kyiv, Dnipropetrovsk, and Poltava regions was targeted. Other reports indicate that senior US and Ukrainian negotiators will also meet in Geneva today to discuss economic issues, including the so-called "Prosperity Plan" to fund Ukraine's post-war reconstruction.
Wall Street struggles to discern the economic impact of artificial intelligence.
Earlier this week, a blog post by Citrini Research titled "The Global Smart Crisis of 2028" triggered a slight dip in the stock market. Investors are digesting the negative prospect of artificial intelligence replacing white-collar jobs and triggering a deflationary spiral. The report points out that the blog post paints a picture of powerful AI agents replacing a large number of white-collar jobs, severely impacting consumer spending, and pushing the global economy into a deflationary spiral, causing stock prices of companies like Uber and Mastercard to plummet. The report states that the market's reaction to this blog post again demonstrates that Wall Street still struggles to grasp the development direction of artificial intelligence, with investors worried that the technology either lacks commercial value or will have an excessive impact on the economy. This view aligns with the bullish stance of safe-haven buying in precious metals.
Trends in key overseas markets
In today's key external markets, the US dollar index rose slightly, crude oil prices fell, and are currently trading around $64.25 per barrel; the benchmark 10-year US Treasury yield is currently at 4.05%.
Technical Analysis of April Gold Futures
(COMEX Gold Daily Chart Source: FX678)
The next short-term upside target for gold bulls is to push futures prices above the key resistance level of $5400.00; the next short-term downside target for bears is to push prices below the key technical support level of $4854.20. The first resistance level for gold futures is seen at this week's high of $5269.40, with further resistance at $5300.00; the first support level is seen at this week's low of $5109.50, with further support at $5100.00.
Technical Analysis of March Silver Futures
(COMEX silver daily chart source: FX678)
The next short-term upside target for silver bulls is to push futures prices above the key technical resistance level of $100.00; the next short-term downside target for bears is to push prices below the key support level of $71.815, the February low. The first resistance level for silver futures is seen at $88.00, with further resistance at the overnight high of $90.255; the next support level is the week's low of $84.56, with further support at $82.50.
Note: The gold market operates primarily through two pricing mechanisms: the spot market, which quotes prices for immediate buying and selling and immediate delivery; and the futures market, which determines the price for delivery on a future date. Influenced by year-end positions and market liquidity, the most actively traded gold futures contract on the Chicago Mercantile Exchange is currently the December contract.
The US and Iran begin their third round of nuclear negotiations.
The United States and Iran launched their third round of nuclear talks in Geneva, Switzerland, just days before President Trump's deadline for an agreement. Tensions between the two sides over Iran's nuclear activities have persisted for months. The talks were mediated by Oman at its embassy in Geneva. Iranian Foreign Ministry spokesman Esmail Bagheei told Iranian state television on the sidelines of the negotiations in Switzerland, "Iran comes to the talks with sufficient pragmatic flexibility. The peaceful use of nuclear energy is a legitimate right recognized by the international community." Trump set a window of March 1-6 for an agreement with Iran and threatened military action if Iran fails to comply, raising concerns in the market about a new war in the Middle East that could potentially involve Israel and the Gulf Arab oil-producing countries.
Russia launches large-scale drone and missile attacks on Ukraine
Just hours after Ukrainian President Volodymyr Zelensky and President Donald Trump discussed possible follow-up actions to the peace talks, Russia launched a large-scale drone and missile attack on Ukraine. Zelensky posted on Telegram today, which Bloomberg reprinted, stating that Russian forces attacked eight Ukrainian regions, deploying 420 drones and 39 missiles, injuring dozens of people, including children. Energy infrastructure in the Kyiv, Dnipropetrovsk, and Poltava regions was targeted. Other reports indicate that senior US and Ukrainian negotiators will also meet in Geneva today to discuss economic issues, including the so-called "Prosperity Plan" to fund Ukraine's post-war reconstruction.
Wall Street struggles to discern the economic impact of artificial intelligence.
Earlier this week, a blog post by Citrini Research titled "The Global Smart Crisis of 2028" triggered a slight dip in the stock market. Investors are digesting the negative prospect of artificial intelligence replacing white-collar jobs and triggering a deflationary spiral. The report points out that the blog post paints a picture of powerful AI agents replacing a large number of white-collar jobs, severely impacting consumer spending, and pushing the global economy into a deflationary spiral, causing stock prices of companies like Uber and Mastercard to plummet. The report states that the market's reaction to this blog post again demonstrates that Wall Street still struggles to grasp the development direction of artificial intelligence, with investors worried that the technology either lacks commercial value or will have an excessive impact on the economy. This view aligns with the bullish stance of safe-haven buying in precious metals.
Trends in key overseas markets
In today's key external markets, the US dollar index rose slightly, crude oil prices fell, and are currently trading around $64.25 per barrel; the benchmark 10-year US Treasury yield is currently at 4.05%.
Technical Analysis of April Gold Futures
(COMEX Gold Daily Chart Source: FX678)
The next short-term upside target for gold bulls is to push futures prices above the key resistance level of $5400.00; the next short-term downside target for bears is to push prices below the key technical support level of $4854.20. The first resistance level for gold futures is seen at this week's high of $5269.40, with further resistance at $5300.00; the first support level is seen at this week's low of $5109.50, with further support at $5100.00.
Technical Analysis of March Silver Futures
(COMEX silver daily chart source: FX678)
The next short-term upside target for silver bulls is to push futures prices above the key technical resistance level of $100.00; the next short-term downside target for bears is to push prices below the key support level of $71.815, the February low. The first resistance level for silver futures is seen at $88.00, with further resistance at the overnight high of $90.255; the next support level is the week's low of $84.56, with further support at $82.50.
Note: The gold market operates primarily through two pricing mechanisms: the spot market, which quotes prices for immediate buying and selling and immediate delivery; and the futures market, which determines the price for delivery on a future date. Influenced by year-end positions and market liquidity, the most actively traded gold futures contract on the Chicago Mercantile Exchange is currently the December contract.
- Risk Warning and Disclaimer
- The market involves risk, and trading may not be suitable for all investors. This article is for reference only and does not constitute personal investment advice, nor does it take into account certain users’ specific investment objectives, financial situation, or other needs. Any investment decisions made based on this information are at your own risk.
