Gold prices surge to February peak above $5,150 amid geopolitical uncertainty

2026-02-23 - 13:22

Gold prices extended their recent rally Monday, reaching their February peak as geopolitical factors and central bank decisions continue to drive the precious metal's sharp fluctuations. As of 1215GMT, gold traded in the $5,150 per ounce range, representing an approximately 0.9% increase from previous sessions. Recent Price Trajectory The latest surge follows significant volatility in gold markets, with prices having dipped to the $4,500 level at the beginning of February before recovering. Last month, gold achieved its all-time historic peak at approximately $5,600 per ounce, reflecting sustained investor demand amid global economic uncertainty and ongoing regional conflicts. Market Drivers Gold's continued strength reflects its traditional role as a safe-haven asset during periods of geopolitical tension and economic instability. Central bank policies, particularly regarding interest rates and monetary easing expectations, have also influenced the precious metal's appeal as a hedge against inflation and currency fluctuations. Analysts expect continued volatility as markets digest evolving geopolitical developments and central bank signals.