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Gold fell to 4867 dollars per ounce and silver to 73.30 dollars amid subdued trading, Lunar New Year holidays, a stronger U.S. dollar, and cautious sentiment ahead of key U.S. economic releases.
By Anshul February 18, 2026, 7:54:43 AM IST (Published)
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Gold and silver prices fell on Wednesday (February 18), with gold dropping around 0.2% to approximately $4,867 per ounce and silver down to about $73.30 per ounce, as subdued trading and a stronger US dollar weighed on the market.
Traders attributed the decline to low liquidity in Asian markets, where Lunar New Year holidays kept major exchanges in China, Hong Kong, Taiwan, Singapore, and South Korea closed.
US markets were also partially inactive due to a holiday, limiting trading volumes and contributing to subdued investor sentiment.
Hareesh V, Head of Commodity Research at Geojit Investments Limited, said, “Gold and silver extended their corrective phase, weighed down by a stronger US dollar and profit-booking after the recent rally. Market participants are turning cautious ahead of key US economic releases, including the FOMC meeting minutes and GDP data, which could influence expectations on the Federal Reserve’s policy path.”
Analysts noted that while short-term pressures remain, the medium-term
outlook for gold remains constructive.
Ross Maxwell, Global Strategy Operations Lead at VT Markets, explained that the recent dip in gold reflects short-term profit-taking rather than a structural change in market sentiment. “Markets are pricing in potential monetary easing across major economies. Any clear signal toward rate cuts could lower real yields and support demand for non-yielding assets like gold,” he said.
Precious metals speculators have also reduced their bullish positions. The latest Commitment of Traders report showed non-commercial traders trimmed net long silver futures to a two-year low of 22,955 contracts as of February 9, 2026, while gold positions were similarly scaled back.
Kaveri More, Commodity Analyst at Choice Broking, highlighted that both metals are hovering near critical support levels. “Watch ₹1.49 lakh per 10 grams as pivotal support for gold and ₹2.25 lakh per 10 grams for silver; breaking below these levels could accelerate further downside,” she said.
Despite the near-term correction, analysts said gold and silver continue to benefit from geopolitical tensions and serve as strategic hedges against macroeconomic uncertainty and currency fluctuations.
-With Reuters inputs
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Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.
