Gold steady as investors weigh progress in US-Iran talks
Markets currently expect three 25-basis-point rate cuts from the Federal Reserve this year, according to CME’s FedWatch Tool
Published Fri, Feb 27, 2026 · 11:07 AM
[BENGALURU] Gold prices held broadly steady on Friday (Feb 27), with investors digesting the previous day’s US-Iran nuclear talks, while the US dollar, hovering near three-week highs, pressured the yellow metal.
Spot gold was steady at US$5,187.39 per ounce by 9.46 am. Bullion hit a more than three-week high on Tuesday.
US gold futures for April delivery were up 0.2 per cent at US$5,204.10.
The US dollar held steady to hover near three-week highs, making US dollar-denominated gold more expensive for holders of other currencies.
The number of Americans filing new applications for jobless benefits increased slightly last week, and the unemployment rate appeared to hold steady in February amid a stable labour market.
Meanwhile, Federal Reserve chair nominee Kevin Warsh’s path to out-of-the-gate interest rate cuts in alignment with US President Donald Trump’s expectations could be narrowing amid emerging bullishness about the US economy, growing CEO confidence in the outlook, and investors keying off a hawkish shift among the central bank’s policymakers.
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Markets currently expect three 25-basis-point rate cuts from the Federal Reserve this year, according to CME’s FedWatch Tool.
Gold looks neutral in a range of US$5,158 to US$5,201 per ounce, and an escape could suggest a direction, Reuters technical analyst Wang Tao said, adding that the bias might be towards the upside, it is supposed to travel to US$5,243 or a much higher level.
In Geneva, the US and Iran made progress in talks over Tehran’s nuclear programme on Thursday, mediator Oman said, but hours of negotiation ended with no sign of a breakthrough that could avert potential US strikes amid a massive military buildup.
Spot silver rose 0.6 per cent to US$88.81 per ounce, after climbing to a three-week high on Wednesday.
Spot platinum added 0.6 per cent to US$2,286.53 per ounce, while palladium gained 0.5 per cent to US$1,794.13. REUTERS
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