Amidst volatile market conditions, gold has surpassed its 50% technical rebound level after a correction and is now only about 12% below its recent peak. This signals that the long-term uptrend remains unbroken, although short-term movements are heavily influenced by speculative capital flows.
Gold bars and silver bars (Photo: Bloomberg).
Structural factors continue to bolster gold's position. In addition, physical demand remains very high. Gold showrooms in the UK, Europe, and Asia are reporting exceptional interest. In India, gold premiums remain near their highest levels in a decade despite high prices, while seasonal demand in China has cooled somewhat.
According to Ross Norman, CEO of Metals Daily, the relative stability of gold reflects a deeper level of commitment from financial institutions to the metal.
He noted that sustained buying from Asia suggests the structural bull market remains intact. However, short-term price movements are currently dominated primarily by large speculative positions, margin adjustments on futures exchanges, the strength of the US economy , and a strengthening US dollar, rather than fundamental supply and demand factors.
This expert argues that gold's greater resilience compared to silver and platinum indicates that long-term institutional investor confidence remains strong. However, repeated periods of sharp volatility risk diminishing participation from a broader group of investors.
In the coming period, US inflation data is seen as a potential major catalyst that could shape the trend of gold prices in the international market.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-van-thung-moc-5000-usdounce-20260219082133620.htm
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