February 9, 2026 Spot Gold Midday Analysis

Holding steady above the 5000 level, the bulls are clearly restoring momentum

In the investment journey, volatility is normal, and confidence is the foundation. The recovery after a sharp decline often hides opportunities. Staying calm is key to capturing profits amid fluctuations.

Global central banks continue to increase their gold holdings, with China's central bank increasing holdings for several consecutive months, providing long-term support. Market expectations of a rate cut by the Federal Reserve in the first half of the year are strong, and the anticipation of loose dollar liquidity is rising, reducing the opportunity cost of holding gold. Coupled with the safe-haven demand driven by geopolitical tensions, these factors jointly push gold prices higher.

Currently, gold is fluctuating and recovering above the 5000 level, with $5000 forming a critical support. The daily chart shows signs of stabilization and rebound. In the short term, focus on the resistance zone of $5050-$5070. If a clear breakthrough occurs, further upward potential is expected.

Operational suggestions: consider buying on dips in the $5000-$5010 range with a stop loss at $4980. The target is near the $5050 level. After breaking through $5050, add positions accordingly, aiming for $5070. If the support at $4980 is broken, reduce positions promptly to avoid risks.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific strategies!!$XAU #XAU