By Sai Gopal Krishna
Gold prices rebounded sharply on February 13, 2026, erasing much of Thursday’s 2.7% plunge as bargain hunters piled in after the dip below $5,000, with spot gold climbing around 1-1.5% to hover near $4,990–$5,008 per troy ounce amid softer US inflation signals boosting rate-cut hopes.
This follows a volatile month where gold rocketed to all-time highs above $5,600 in January before February’s corrections—daily swings of 1-3% became routine, pulling prices back from overbought territory to the mid-$4,900s to low-$5,000s range. The latest recovery signals resilient demand, driven by central bank buying, geopolitical hedges, and investor appetite despite dollar fluctuations.
In Dubai, local rates steadied after the global dip: 24K gold traded around AED 595–600 per gram (down slightly from earlier highs but up from Thursday’s lows), equating to roughly AED 5,950–6,000 per 10 grams or ₹147,000–₹148,000 in INR terms (using ~24.6 AED/INR). Dubai remains a bargain hub—cheaper by ₹6,000–₹7,000 per 10 grams versus India due to zero duties—fueling steady tourist and investor demand for accumulation during pullbacks.
India saw a mixed but mostly upward session: 24K gold climbed to ₹153,500–₹155,780 per 10 grams (gains of 0.8–1.5% in many reports, with some spots at ₹154,550+), while 22K hovered near ₹141,000–₹142,800. Wedding-season buying and rupee dynamics kept premiums firm over Dubai, though sky-high levels earlier tempered pure jewelry demand—overall 2026 consumption may soften if prices stay elevated.
The February correction looks like a classic healthy reset after the euphoric January surge; with support near $5,000 holding and upside catalysts intact, gold’s bull run isn’t over—watch US data closely for the next leg.
With additional input from Ibrahim Al Samadi
