Gold pulls back on firmer dollar

February 24, 2026 (MLN): Gold prices retreated on Tuesday as profits were locked following a sharp rally in the previous session, while a firmer U.S. dollar added pressure to the precious metal.

The pullback comes after bullion surged 2.5% in the prior session with U.S. gold futures for April delivery were down 0.3% at $5,210.40, according to CNBC.

The decline in gold coincided with a modest rebound in the dollar, which makes dollar-denominated commodities more expensive for holders of other currencies.

However, currently spot gold is up 1.31% to $5,170.57 an ounce as of [11:51 am] PST, according to data reported by Mettis Global.

A stronger greenback typically dampens demand for bullion, which is often viewed as a hedge against economic and geopolitical uncertainty.

Sentiments remained fragile in broader markets.

Concerns intensified after U.S. President Donald Trump warned countries against walking away from recently negotiated trade agreements, following a Supreme Court decision that struck down his emergency tariffs. Trump signaled he could impose steeper duties under alternative trade laws if partners backtracked.

Geopolitical tensions, including rising strains between the U.S. and Iran, also added to market unease.

Other precious metals also edged lower.

Spot silver declined 1% to $87.38 per ounce after reaching a more than two-week high in the previous session.

Platinum fell 0.7% to $2,139.25, while palladium bucked the trend, rising 0.3% to $1,748.12.

Copyright Mettis Link News