Gold Prices Rise as Investors Await Fed Minutes

Bullion gains over 1% from one-week low ahead of key US economic data release

Published on Feb. 21, 2026

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Gold prices rose more than 1% from a one-week low as investors awaited the release of the minutes from the U.S. Federal Reserve's January meeting. Spot gold gained 0.8% to $4,915.90 per ounce, while U.S. gold futures for April delivery increased 0.6% to $4,936.30. The rise in prices was attributed to opportunistic buying after gold fell below $4,900 per ounce, as well as positioning ahead of the Fed minutes and upcoming U.S. economic data.

Why it matters

Gold prices are closely watched as an indicator of investor sentiment and economic conditions. The release of the Fed minutes and U.S. economic data will provide insights into the central bank's monetary policy outlook, which can significantly impact the direction of gold prices.

The details

Gold prices dropped to $4,841.74 per ounce on Tuesday, pressured by a stronger U.S. dollar and easing tensions between the United States and Iran. However, the market has seen some opportunistic buying, with investors positioning themselves ahead of the release of the Fed minutes and the U.S. Personal Consumption Expenditures report for December, due on Friday. The minutes are expected to provide clues about the Fed's future interest rate decisions, which can affect the appeal of non-yielding bullion.

  • The U.S. Federal Reserve's January meeting minutes are due to be released on Wednesday.
  • The U.S. Personal Consumption Expenditures report for December is scheduled for release on Friday.

The players

Bernard Dahdah

An analyst at Natixis.

Austan Goolsbee

The Chicago Fed President, who signaled "several more" rate cuts this year if inflation resumes a decline to the 2% target.

Michael Barr

A Fed Governor, who said that another rate cut could come somewhere well down the road.

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What they’re saying

“Prices falling below $4,900 "has created some opportunistic buying in the market,”

— Bernard Dahdah, Analyst (Reuters)

“Unless there are geopolitical reasons, we don't expect to see the same rally that we saw last year. So we see prices averaging around $4,850 this year,”

— Bernard Dahdah, Analyst (Reuters)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.