Gold prices dropped due to profit-taking after record highs, driven by safe-haven demand.

From Investing.com: 2025-02-26 02:31:00

Gold prices dropped by 1.22% as investors engaged in profit-taking following record highs. The surge in XAU/USD was driven by safe-haven demand amid geopolitical tensions. The market awaits potential Fed interest rate cuts. XAU/USD remained stable during Asian and European trading. Gold’s sustainability depends on safe-haven demand and global developments. Euro rose by 0.45% against USD due to weak US Consumer Confidence Index. Concerns over US growth, inflation, and tariffs pressure USD. Germany’s spending optimism supports euro. EUR/USD fluctuated in Asian and European sessions. British pound gained 0.32% on weak USD. GBP/USD struggles to sustain bullish trend amidst underperformance and dovish BoE expectations. BoE speech may impact GBP pairs. Key levels for GBP/USD are 1.26700–1.27000 and 1.26200–1.26000.



Read more at Investing.com: Gold Price Retreats Amid Market Consolidation and Fed Speculation