February 26, 2026 Spot Gold Morning Analysis

Yesterday, gold initially fell then rose, with fluctuations during the day. During the US session, it bottomed out and rebounded, closing above 5140. Overall, it did not break key support levels, indicating a strong correction.

Regarding news, two main points are worth noting: First, the US imposing additional tariffs has heightened market risk aversion, and funds are willing to buy gold; second, expectations of Federal Reserve rate cuts remain. Although rate cuts are not imminent in the short term, the overall downward trend in interest rates remains, providing support for gold prices.

From a technical perspective, the situation is straightforward: the daily chart still shows a bullish trend. Yesterday’s bearish candle was just a short-term adjustment, not a trend reversal. Short-term support is at 5130-5150; as long as this level holds, the bulls remain intact. Resistance above is at 5200-5220; last night’s rally failed to stabilize, so today we expect range-bound trading.

This morning’s market is relatively stable, with no sharp rises or falls, making it suitable for light positions within a range. The trading strategy is simple: if prices pull back to 5140-5150 and stabilize, go long with a stop loss below 5120, targeting 5190-5210.

If prices surge to 5200-5215 and encounter resistance, consider a light short position with a stop loss at 5230, aiming for 5160-5140.

Current volatility is moderate, so avoid heavy positions and chasing orders. Strictly use stop losses. Focus on the support at 5130 and resistance at 5220; breakouts in either direction should be traded accordingly. Until then, trade within the range by buying low and selling high—being cautious is more reliable.

This is only a personal suggestion for reference and does not constitute investment advice. Please follow Cheng Jingsheng’s layout for specific strategies! $XAU ‌#XAU