February 12, 2026 Spot Gold Summary

Spot gold initially declined then surged in a deep V-shape, with a pullback during the Asian session, stabilization in the European session, and oscillations in the U.S. session. Throughout the day, it fluctuated within the 5040–5100 range. Non-farm payroll data was bearish, but gold prices did not fall sharply; strong buying support at low levels kept prices stable above 5060. The daily chart remains in a high-level oscillation, with the bullish trend intact, but short-term overbought conditions and clear correction pressures are evident.

On the news front, last night’s initial jobless claims data was bullish but was interpreted by the market as employment not weakening significantly, delaying rate cut expectations and fueling hawkish sentiment. The dollar and U.S. Treasury yields surged sharply, combined with profit-taking at high levels and a cooling of risk aversion sentiment. Multiple bearish factors resonated, causing gold prices to drop rapidly and break support. With no major data releases at midnight, the trend was mainly driven by technical corrections and capital battles.

Technically, gold surged then broke down sharply, disrupting the bullish daily structure. Indicators turned downward, favoring short-term bears. The hourly chart shows oversold conditions with a weak rebound demand, but the overall downward pattern remains unchanged. Key levels are clear: resistance at 4990–5000, support at 4880–4900.

Cheng Jingsheng believes that this profit-taking correction is only short-term and does not indicate overall weakness. The market’s demand for gold as a safe haven remains strong, so there’s no need for excessive panic. In terms of trading strategy, if prices stabilize around 4880–4900 during a pullback, consider a light short-term long position with a stop loss at 4860, targeting around 4950–4980.

Trade with a light position, strict stop-loss, quick entries and exits—prioritize stability.

The above is only personal advice and for reference only; it does not constitute investment advice. Please follow Cheng Jingsheng’s strategic layout for specifics! $XAU ‌#XAU