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Gold Prices Dip as Investors Book Profits
Thin holiday trading and profit-taking pushed bullion lower
Published on Feb. 16, 2026
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Gold futures (GC=F) slipped 0.4% to $5,027.80 a troy ounce, while spot prices lost 0.7% to $5,006.65, as investors booked profits amid thin trading conditions due to the US Presidents' Day holiday and the Lunar New Year in China. The Federal Reserve Bank of Chicago's president Austan Goolsbee said interest rates could fall, although services inflation remained elevated.
Why it matters
Gold prices are closely watched as an indicator of broader economic conditions and investor sentiment. The dip in gold prices highlights the volatility in the commodity market and the impact of factors like holidays and profit-taking on the price movements.
The details
The decline in gold prices was attributed to thin trading conditions and profit-taking by investors. With US markets closed for the Presidents' Day holiday and Chinese markets shut for the Lunar New Year, trading volumes were lower, leading to the price drop. Additionally, Austan Goolsbee, the president of the Federal Reserve Bank of Chicago, said interest rates could fall, although he cautioned that services inflation remained elevated.
- Gold futures (GC=F) slipped 0.4% to $5,027.80 a troy ounce, while spot prices lost 0.7% to $5,006.65 at the time of writing.
- US markets are closed for the Presidents' Day holiday, while markets in China were shut for the Lunar New Year holiday, leading to lighter trading conditions.
- On Friday, Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said interest rates could fall, although he cautioned that services inflation remained elevated.
The players
Austan Goolsbee
The president of the Federal Reserve Bank of Chicago.
Tim Waterer
The chief analyst at KCM.
What they’re saying
“Gold has given back some of Friday's post-CPI gains today due to thinner trading conditions and a lack of fresh upside catalysts.”
— Tim Waterer, chief analyst (yahoo.com)
“It will likely require the dollar to resume its downtrend for gold (GC=F) to make a push in the direction of $6,000 before year-end.”
— Tim Waterer, chief analyst (yahoo.com)
The takeaway
The dip in gold prices highlights the sensitivity of the commodity market to factors like trading volumes, profit-taking, and economic indicators. Investors will be closely watching for any changes in the Federal Reserve's interest rate policy and the broader economic conditions that could impact gold prices in the coming months.
