Precious Metal Market Outlook & Bullion Trading Economic Trends

Exclusive Precious Metals Market Outlook and Recommendations

Index updated February 16, 2026

Blanchard's Bi-weekly Index

The Blanchard Bi-weekly Index is a roll-up of industry news and economic trends affecting the precious metals market and trading world.

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Market Movers

Precious Metals

The price of gold has traded quietly around $5,050 an ounce for the past two weeks. The gold market has stabilized following the late January volatility. Gold and silver are posting double digit gains since the start of the year and continue to outperform stocks. The U.S. stock market slipped into negative territory in mid-February as concerns over whether massive AI investments at big tech companies will pay off weigh on equity prices.

People across China are buying up large amounts of gold as both an investment and as gifts for the Chinese New Year, which starts on Feb. 17. Festivities can last up to 16 days. The Chinese people buy gold as a symbol of wealth, prosperity, and good fortune. In 2026, the Year of the Horse, gold remains a central cultural and financial asset for the Chinese people. It is purchased to pass blessings to the next generation, ward off misfortune, and also serve as a store of value and wealth building tool.

Key Takeaway:

Gold posted one of its strongest January performances in decades. It trended steadily higher, hitting 11 all-time highs during January and touching the $5,562 level. Gold dipped briefly in early February, but quickly moved back above $5,000 an ounce. Investors took advantage of the lower prices to buy gold, since the key fundamental factors supporting the long-term uptrend in precious metals remain in place.

Economic Update

In January, the Consumer Price Index (CPI) increased 0.2% to 2.4% year-over-year. The increase in inflation slowed modestly from December’s 2.7% annualized reading, but remains above the Federal Reserve’s 2.0% inflation target
The January employment report revealed signs of improvement in the jobs market, as the unemployment rate slipped from 4.4% to 4.3% and 130,000 new jobs were added to the economy. However, a major benchmark revision showed that 898,000 fewer jobs were added from March 2024 through March 2025 than previously reported.
Existing Homes Sales plummeted -8.4% in a worrisome development for the U.S. housing market.

Key Takeaway:

The improvement in the inflation picture leaves room for the Federal Reserve to support the jobs market, with two or three interest rate cuts this year. Fed rate cuts are positive for gold and will continue to support the long-term uptrend in precious metals.

In the News

China’s gold rush: why families are doubling down on precious metals – South China Morning Post, Feb 14, 2026

“Middle-class families in China’s major cities are investing more heavily in gold, with the metal increasingly seen as a promising asset class amid economic challenges at home and rising geopolitical tensions overseas.”

‘Normalcy has returned’ to metal trade as gold recoups from sell-off – Yahoo Finance, Feb. 12, 2026

“Unlike equities, where usually the crash risk is going lower…These metals are the opposite, where geopolitical events will could send gold gapping higher.”

What’s Next for Precious Metals? – Wall Street Journal, Feb. 10, 2026

“Many market watchers have a positive outlook for precious metals—gold, silver, platinum and palladium—as a weaker U.S. dollar, supply constraints, geopolitical uncertainty, and both investor and industrial demand are likely to support prices over the long term.”