Profit-taking pushes gold down about 4.5% at settlement

February 2026 gold futures fell 0.75% to $4,518.8 an ounce

Gold prices fell in Monday’s settlement as profit-taking followed the precious metal reaching a new record level at the end of last week’s trading.

February gold futures dropped 4.6%, or $209.1, to $4,343.6 per ounce, after the most-active contract had closed at a record for the 52nd time this year on Friday.

The decline comes amid a broader wave of profit-taking in precious metals, following strong recent gains in silver, platinum, copper, and palladium.

Additional pressure on the market came after the Chicago Mercantile Exchange raised margin requirements for precious metals futures, a move aimed at curbing market volatility amid rising prices and profit-taking.

Gold’s fall was partially offset by renewed tensions on Europe’s eastern front, after Russia accused Ukraine of attempting to target President Vladimir Putin’s residence, saying the escalation would affect its negotiating stance in peace talks, though Kyiv denied the claims.

Separately, US President Donald Trump announced that Washington targeted an area in Venezuela used to load ships with drugs. This marks the first US military strike inside the Latin American country since the start of its recent pressure campaign against President Nicolas Maduro’s government.

Other precious metals also fell sharply: March silver futures dropped 7.4% to $71.48 per ounce as of 10:41 p.m. Mecca time, palladium fell 16.47% to $1,690 per ounce, and February platinum futures declined 14.39% to $2,121.