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Gold prices headed for a seventh consecutive monthly gain on February 27, as falling US Treasury yields impacted the opportunity cost of holding the precious metal. Modest safe-haven demand kept prices relatively stable, as investors monitored progress in negotiations between the US and Iran.
Specifically, at 12:43 PM on February 27th, Vietnam time (5:43 AM GMT on February 27th), the spot gold price rose 0.1% to $5,192.19 per ounce. US gold futures for April delivery increased 0.3% to $5,209.20 per ounce.
The yield on 10-year US Treasury bonds fell to its lowest level in three months. Kelvin Wong, senior market analyst at financial services firm OANDA, said the sharp drop in the real yield on 10-year US Treasury bonds (i.e., the yield after adjusting for inflation) is now supporting the stability of gold prices. This is helping gold prices hold firm despite the easing of risk aversion in the market following the US-Iran talks the previous day.
Gold prices are on track for their seventh consecutive monthly gain, with a more than 6% increase in February 2026. This month, renewed uncertainty surrounding US tariff policies and US-Iran tensions has increased gold's appeal as a safe-haven asset.
The US and Iran made some progress in talks in Geneva, Switzerland, on February 26 regarding Iran's nuclear program. However, hours of negotiations failed to produce a breakthrough aimed at avoiding the risk of US military action.
The US dollar is expected to rise 0.6% in February 2026, as signals suggest the Federal Reserve may maintain a more hawkish stance on monetary policy. This makes gold – which is priced in USD – more expensive for investors holding other currencies.
The prospect of an early interest rate cut by Kevin Warsh – a nominee for Fed chairman – as expected by President Donald Trump, may be narrowing amid more positive signs in the US economy . The number of Americans filing initial jobless claims rose slightly last week. However, data suggests the unemployment rate appeared to remain stable in February 2026, reflecting a generally robust labor market.
According to CME's FedWatch tool, the market currently forecasts that the Fed will cut interest rates at least three times this year, each by 0.25 percentage points.
In other precious metals markets, spot silver prices rose 1.6% to $89.73 per ounce and are on track for a 6.1% gain in February 2026. Platinum prices increased 5.2% to $2,260.09 per ounce – a four-week high. Meanwhile, palladium prices rose 2.3% to $1,825.29 per ounce.
In the Vietnamese market, on the afternoon of February 27th, Saigon Jewelry Company listed the price of SJC gold bars at 181 - 184.02 million VND/ounce (buying price - selling price). #GOLD #XAUUSD #PAXG
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