Gold Continues to Shine with Latest Break Higher – 24 February 2026

Gold has seen buying pressure again on Monday, as the markets continue to see a lot of noise from geopolitical events, central banks and interest rate policy, and simple momentum.

Gold

Gold has rallied again during the trading session on Monday as we continue to see a lot of upward pressure. All things being equal, this is a market that I think is trying to break above the $5,200 level, an area that has been important in the past. I think we have a situation where short-term pullbacks continue to open up the possibility of value hunting.

The $5,000 level is an area where a lot of people are going to be paying attention. As it is an area that obviously has a lot of influence on the market, all things being equal, this is a market that I think continues to jump to the upside and perhaps try to work against all of that drama that we had from just a few weeks ago.

Geopolitical and Monetary Tailwinds

That huge sell-off that we had several Fridays ago, I think continues to be important and certainly has an effect on this market. Overall, we still are in an uptrend, and we never even broke down, at least on a daily close, below the 50-day EMA.

Geopolitical tensions continue to be a driver for gold, but we also have central banks around the world which are loosening monetary policy for the most part, and that helps drive gold higher. More specifically, the Federal Reserve and interest rates in the United States, both looking somewhat dovish, I think that provides yet another tailwind for gold.

I have no interest in shorting this market; it is obviously very bullish, and I do think that you will continue to see buyers jump into this market each and every time it dips, at least for the foreseeable future. That doesn't mean that we go straight up in the air, nor does it mean that the rally is going to be easy, but clearly, it is the direction that the overall market is starting to follow.

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