Gold prices hold steady as dollar strength offsets tariff concerns

Gold prices held steady on Wednesday as a firm dollar pressured the metal. Markets are weighing new U.S. tariffs and upcoming nuclear negotiations in Geneva.

Gold prices remained broadly unchanged on Wednesday, February 25, 2026, following a decline of more than 1% in the previous session. The stabilization in the spot gold market comes after bullion retreated from a recent three-week high, as the U.S. USUS dollar index maintained its recent gains. This persistent strength in the greenback has made dollar-priced metals more expensive for overseas buyers in markets such as Japan JPJP and Germany DEDE, continuing to exert downward pressure on both bullion prices and U.S. gold futures.
Gold imitation and U.S. dollar banknotes are seen in this illustration picture taken February 20, 2026. REUTERS/Dado Ruvic/Illustration
Gold imitation and U.S. dollar banknotes are seen in this illustration picture taken February 20, 2026. REUTERS/Dado Ruvic/Illustration
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