Gold $XAU Outlook for the Week: February 9–15, 2026
As the market enters the week of February 9–15, 2026, gold is no longer trading on fear — it is trading on positioning.
The sharp sell-off in early February 2026, which pushed gold down more than 20%, has already flushed out weak hands. What we are seeing now is not panic selling, but a pause — a classic consolidation phase after a forced liquidity event.
Three key forces are shaping gold’s direction this week:
First, central bank demand remains intact. There is no evidence that official buyers slowed accumulation during the February drop. Historically, this is exactly the zone where long-term buyers step in quietly, while retail sentiment stays cautious.
Second, real yields are stabilizing, not rising. The gold sell-off was driven more by paper-market pressure than by any structural shift in monetary policy. Without a sustained rise in real rates, downside momentum in gold $XAU is limited.
Third, physical gold premiums remain elevated across Asia and the Middle East. This divergence between paper prices and physical demand suggests the recent drop was technical, not fundamental.
Outlook for the week:
Gold $XAU is likely to trade sideways to slightly higher, with increased volatility around U.S. macro data releases. Any further dips are expected to attract strong buying interest rather than trigger another wave of selling.
Bottom line:
The week of February 9–15, 2026 looks less like a continuation of the crash — and more like the calm before the next directional move. The market already had its shock. Now it’s watching who is still buying when no one is screaming anymore.
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This is a personal insights, not financial advice | DYOR
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