Everbright Futures: Tensions between the US and Iran continue, gold maintains strong momentum

K-LinePoet · 2026-02-24T02:01:36+00:00

On February 23, COMEX gold prices rose by 3.29% to $5247.9 per ounce, driven by geopolitical tensions and weak economic data. Gold prices are expected to remain strong in the short term.

K-LinePoet

2026-02-24 02:01:36

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On February 23, COMEX gold continued to fluctuate upward, closing at $5,247.9 per ounce, up 3.29%. Domestic SHFE gold remained closed for the Spring Festival holiday.
During the Spring Festival, the overseas precious metals market rebounded strongly due to geopolitical tensions. As the United States dispatched heavy troops to the Middle East and negotiations over Iran’s nuclear issue clouded, the risk of war suddenly tightened. Meanwhile, the U.S. Department of Commerce released a Q4 2025 GDP preliminary estimate of only 1.4%, well below expectations, along with weak PMI data, reigniting fears of stagflation. Coupled with the U.S. Supreme Court ruling on February 20, 2026, that the Trump administration’s large-scale tariffs under the International Emergency Economic Powers Act were illegal, the combination of soft macroeconomic data and risk aversion sentiment drove gold and silver prices to recover strongly at the end of the holiday. Looking ahead, “de-dollarization” and “Federal Reserve rate cuts” remain the main themes this year. The complexity and persistence of geopolitical tensions are key reasons why gold remains difficult to weaken significantly. Given the still volatile geopolitical situation, a short-term bullish bias toward gold is expected. (Everbright Futures)

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