February 24, 2026
Gold Technical Analysis Report: 24 Feb 2026 – Dubai Market Outlook
The global bullion market has reached a critical technical juncture this Tuesday, February 24, 2026. After a period of high-octane volatility and a brief retreat from historic peaks, Gold (XAU/USD) is once again asserting its dominance as the premier safe-haven asset.
At Gold Trade, we monitor these shifts with precision, providing our clients with the deep-dive analysis required to navigate the world’s most liquid precious metals market. Today’s report focuses on the technical resilience of the yellow metal following the recent "Tariff Turmoil" and the shifting expectations regarding the Federal Reserve's monetary trajectory.
Market Snapshot: Gold Trading in Dubai
As of the morning session in Dubai, spot gold is holding steady near the $5,170 mark, showing remarkable strength after breaking through the psychological barrier of $5,100. Gold bar price depends on the brand and purity. Dubai retail price for different karat are -
| Purity | Price per Gram (AED) |
|---|---|
| 24K Gold | AED 612.45 |
| 22K Gold | AED 566.20 |
| 21K Gold | AED 541.50 |
| 18K Gold | AED 465.10 |
Note: Prices are subject to market fluctuations. Contact Gold Trade for real-time quotes.
Technical Analysis: The Path to $5,400
From a technical perspective, the "bullish trend line" that originated from the January lows has remained intact despite several aggressive tests. The price action over the last 48 hours suggests that the market has successfully flipped previous resistance at $5,100 into a formidable floor.
1. Support Zones: The "Line in the Sand"
The $5,100 level is currently the most significant psychological and technical support for the current session.
- Immediate Support ($5,129 - $5,150): This zone is acting as the first line of defense. As long as gold stays above the 50-day Exponential Moving Average (EMA) , currently trending near $5,080, the intraday bias remains firmly upward.
- Secondary Support ($5,035): Should we see a localized pullback, the $5,035 level represents a key Fibonacci retracement level. A daily close below this would signal a transition into a broader consolidation phase.
2. Resistance Levels: The Supply Ceilings
On the upside, gold faces a series of "supply ceilings" that must be breached to re-establish the parabolic momentum seen in late 2025.
- Primary Resistance ($5,200 - $5,240): Sellers have shown interest near the $5,200 handle. A decisive breakout here would likely trigger a wave of algorithmic buying.
- Major Target ($5,400): This is the "Holy Grail" for the current impulse wave. Technical analysts at Gold Trade anticipate that a move toward $5,400 would coincide with a retest of the all-time highs reached in late January.
3. Momentum Indicators
- RSI (Relative Strength Index): The 14-day RSI is currently hovering around 62, indicating bullish momentum without being "overbought" yet. This suggests there is still enough "fuel" in the tank for a push toward $5,300.
- MACD (Moving Average Convergence Divergence): The MACD histogram has crossed into positive territory on the daily chart, confirming the end of the early-February correction.
Fundamental Drivers: Why Gold is Rising Today
While technicals provide the "map," the fundamental landscape provides the "fuel." Several key factors are driving the current demand in the Dubai market:
The "Tariff Shock" and Currency Debasement
Following the recent Supreme Court rulings and subsequent executive actions regarding global trade tariffs, the US Dollar has shown signs of unexpected weakness. Investors are increasingly viewing gold as the only "neutral" currency in a world of trade wars and shifting legal frameworks.
Central Bank Accumulation
Central banks, particularly in emerging markets, continue to be the "conviction buyers" of 2026. Reports indicate that official sector buying remains at record levels as nations diversify away from dollar-denominated assets. This provides a structural "floor" for gold prices that prevents deep corrections.
The Fed Factor
Despite a hawkish lean from some Federal Reserve officials, the market is pricing in a 70% probability of interest rate stabilization or cuts by mid-year. Lower real yields are historically the strongest catalyst for gold appreciation, reducing the opportunity cost for institutional allocators.
Expert Insight from Gold Trade
"The current price action near $5,170 is not just a recovery; it’s a consolidation of power. In the Dubai physical market, we are seeing a shift from speculative trading to long-term wealth preservation. Investors are no longer asking if gold will reach $5,500, but when."
— Senior Analyst, Gold Trade
Strategic Recommendations for February 24
For Short-Term Traders:
Look for "buy on dip" opportunities near the $5,130 level. A stop-loss should be placed below $5,090 to protect against a sudden reversal. The immediate target for take-profit remains the $5,240 resistance zone.
For Long-Term Investors:
The current stabilization above $5,100 offers a strategic entry point for those with a 12-month horizon. With institutional forecasts from Goldman Sachs and JPMorgan targeting anywhere from $5,400 to $6,000 by the end of 2026, the current levels still represent significant upside potential.
Conclusion
The Gold Technical Analysis Report for 24 Feb 2026 points toward a market that is fundamentally undersupplied and technically over-performing. As Dubai continues to solidify its position as the "City of Gold," the local market remains the epicenter for those looking to capitalize on this historic bull run.
Disclaimer: The information provided in this Gold Technical Analysis Report is for educational purposes only and does not constitute financial advice. Trading gold and precious metals involves significant risk. Investors should conduct their own research or consult with a professional financial advisor before making any investment decisions.
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