Gold hits $5,200 on geopolitical fears

February 26, 2026 (MLN): Gold prices continued their upward trajectory as investors weighed rising geopolitical risks in the Middle East and fresh uncertainties in US trade policy.

Currently, spot gold went up 0.86% to $5,196.01 an ounce as of [11:40 am] PST, according to data reported by Mettis Global.

Bullion approached $5,200 per ounce, marking nearly a 6% increase over the past six trading sessions, according to Bloomberg.

The precious metal has now surged almost 20% since the beginning of the year, maintaining levels above $5,000 per ounce after a brief pullback from its late-January peak of $5,595.

Markets are on high alert following the US troop buildup in the Middle East, alongside sanctions imposed on over 30 entities linked to Iranian oil and weapons exports.

These measures intensify pressure on Tehran ahead of a new round of nuclear talks scheduled in Geneva on Thursday.

Meanwhile, the administration of US President Donald Trump continues to pursue its trade agenda.

US Trade Representative Jamieson Greer confirmed that Trump intends to raise global tariffs to 15% “where appropriate,” following a recent 10% levy implemented after the Supreme Court invalidated the previous reciprocal tariffs.

These developments have added strain to trade relations with major global partners.

The combination of geopolitical tensions, trade uncertainties, and concerns over potential political influence on US Federal Reserve policy has reinforced gold’s role as a hedge against economic and currency risks.

Investors continue to view bullion as a safe haven amid a multiyear bullish trend driven by fears of dollar depreciation.

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