Gold prices dip ahead of US inflation data

Gold bars

Gold futures declined ahead of US inflation data and upcoming interest rate decisions from major European central banks.

On Thursday, February 2026 gold futures fell 0.2% ($9.10) to $4,364.80 per ounce. Spot gold edged down 0.1% to $4,333.88 per ounce, while spot silver rose slightly to $66.33 per ounce.

The US Dollar Index, which tracks the greenback against six major currencies, remained steady at 98.40 as of 09:27 am Makkah time.

March 2026 silver futures slipped 0.5% to $66.57 per ounce. In contrast, spot platinum gained about 3.5% to $1,969.09, and palladium rose 1.55% to $1,678.79.

The US Consumer Price Index is set to be released later today, with expectations of faster annual inflation in November, while policymakers at the Bank of England and European Central Bank will meet to discuss interest rates.