Gold Prices Steady in Asian Trade, Headed for Strong February Gains

Gold prices steadied in Asian trading on Friday and remained on track for strong gains in February, supported by persistent safe-haven demand amid rising geopolitical tensions and global economic uncertainty. Disruptions in U.S. trade policy and concerns over slowing growth in major economies kept investors biased toward defensive assets, helping bullion recover most of its late-January losses. Geopolitical Tensions Support Gold Renewed tensions in the Middle East, particularly surrounding Iran, played a key role in gold’s rebound. Washington increased its military presence in the region and warned of possible action if Tehran failed to accept a nuclear agreement. Although recent talks concluded without a deal, both sides agreed to continue discussions, offering limited optimism for a diplomatic resolution. In South Asia, reports of conflict between Pakistan and Afghanistan also triggered fresh haven demand, though the situation remains regionally contained for now. Gold Recoups Early-February Losses Spot gold steadied at $5,187.18 per ounce, while April gold futures rose 0.2% to $5,203.61 per ounce. Gold has gained approximately 6.7% in February, recovering sharply from early-month lows near $4,600 per ounce. The rebound follows a rapid correction that had erased a speculative rally at the end of January. U.S. Economic Uncertainty Adds to Support Heightened uncertainty around U.S. economic policy further strengthened gold’s appeal. A recent U.S. Supreme Court ruling struck down most of President Donald Trump’s trade tariffs. In response, the administration announced new tariffs under an alternative legal framework and signaled additional levies, maintaining market concerns over potential economic disruptions. Other Precious Metals Rally Precious metals broadly advanced on Friday: Spot silver rose 1.7% to $89.78 per ounce, up roughly 6% in February. Spot platinum climbed 3% to $2,351.63 per ounce, marking an 8.4% gain this month. Copper Edges Higher, China Demand in Focus In industrial metals, copper prices posted modest gains as markets turned attention toward China, the world’s largest importer. London benchmark copper futures rose 0.2% to $13,333 per ton, up 1.2% this month. COMEX copper futures gained 0.4% to $6.0480 per pound, showing a 1.1% monthly increase. Copper’s muted February performance was largely due to reduced activity during China’s Lunar New Year holiday, which kept mainland markets closed for over a week. Inventory levels reportedly increased during the break amid ongoing mining and trade disruptions. With Chinese markets now reopened, investors are closely watching for renewed buying momentum. Copper demand is expected to strengthen in the coming quarters, particularly as global artificial intelligence infrastructure expansion accelerates. If you want, I can also: 🔥 Make it more technical-analysis focused (RSI + structure style like ThePipLab) 📈 Convert it into a shor

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