Why Is Gold Down Today, 2/24/26?

2026-02-24 21:04:59

Abstract generation in progress

Gold (XAUUSD) is trading lower on Tuesday and is set to snap a four-day winning streak that had been supported by tariff uncertainty and tensions between the U.S. and Iran.

Claim 50% Off TipRanks Premium

Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

An upbeat reading from The Conference Board’s Consumer Confidence Index (CCI) is adding to the precious metal’s fall, as gold tends to benefit when economic data skews negative. Profit-taking is also a factor behind gold’s negative performance today.

Wall Street Remains Bullish on Gold

At the same time, gold is still trading above $5,000 per troy ounce and its upward trend remains intact.

“Moves within 2% are in the normal range of market volatility right now,” said Guangdong Southern Gold Market Academy researcher Song Jiangzhen. “Longer-term sentiment is still positive, with ongoing uncertainty in Iran and the U.S. risking isolation with its tariff policies.”

Many Wall Street firms, including Goldman Sachs GS +1.25% ▲ and Deutsche Bank DB -1.19% ▼ , expect gold to continue its ascent, supported by factors including concerns about the Fed’s independence and geopolitical uncertainty in the Middle East.

Disclaimer & DisclosureReport an Issue

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.