Global Gold Prices Hold Steady as US-Iran Nuclear Talks Continue

Gold prices held steady on Thursday, February 26, 2026, as investors paused their buying activity ahead of the third round of indirect nuclear talks between the United States and Iran in Geneva. The outcome of these talks is expected to have significant geopolitical implications.

Spot gold was trading at $5,168.72 per ounce at 13:37 EST, while US gold futures for April delivery closed at $5,194.20, a 0.6% decline. Analysts from FOREX.com, including Razan Hilal, warned of increased risks of a price drop should short-term geopolitical agreements materialise.

Iranian officials indicated that a preliminary deal might be reached if the US separates nuclear from non-nuclear issues, while analysts remain uncertain about the talks' progress. Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals, expressed that although there's interest in how these negotiations unfold, considerable uncertainty remains.

Gold, seen as a safe haven asset during times of geopolitical and economic uncertainty, may see an upward adjustment, with some experts predicting a rise to $5,340.72, followed by $5,400, despite potential short-term fluctuations.

The US also made headlines when US Trade Representative Jamieson Greer announced a potential increase in import tariffs for certain countries, though no details were disclosed. Meanwhile, the US job market appears stable, with a slight increase in initial unemployment claims in the past week.

Meanwhile, silver, platinum, and palladium saw slight declines in value, with spot silver dropping 2.5% to $87.14 per ounce, platinum down 2.2% to $2,236.37, and palladium losing 1.9%, settling at $1,761.05 per ounce.

By the morning of February 27, Bloomberg reported that gold remained steady at $5,185.75 per ounce, with silver down 0.3% and palladium rising. The Bloomberg Dollar Spot Index closed with a 0.1% gain, reflecting slight fluctuations in the broader market.