Gold and silver prices fell significantly as the dollar strengthened, influenced by ongoing market closures in Asia due to the Lunar New Year holidays.
On February 17, 2026, gold prices fell by 2% to reach $4,891.80 per ounce, while silver experienced a greater loss of 3%, reflecting the dual impacts of a strengthening U.S. dollar and reduced trading activities in key Asian markets due to the Lunar New Year celebrations. This decline in precious metals comes amidst a closed U.S. market for President's Day, alongside various Asian markets including mainland China, Hong Kong, Singapore, Taiwan, and South Korea, which were also closed for the holidays. The combined factors have pressured gold and silver prices lower as traders anticipate potential changes in monetary policy from the Federal Reserve, which may consider cutting interest rates in the upcoming months.
