Market Update: Gold Holds Above $5,000 Despite Rate Cut Delay – 12 February 2026
Previous Day Closing Prices (11 February)
Indices
- Dow Jones: 50,163 (-0.05%)
- S&P 500: ~6,935 (flat)
- Nasdaq: ~23,050 (flat)
Commodities
- Gold: $5,065.33/oz (-0.39%)
Major Forex Pairs
- EUR/USD: 1.1877 (+0.04%)
- GBP/USD: 1.3635 (+0.05%)
- USD/JPY: 152.92 (-0.22%)
- USD/ZAR: 15.89 (+0.23%) — Rand slightly weaker
International News
US markets traded mixed on Wednesday as investors digested strong jobs data. The employment report showed the largest increase in over a year, with unemployment unexpectedly declining — signalling a resilient labour market at the start of 2026.
This strength has pushed Fed rate cut expectations from June to July, as the central bank maintains its cautious stance on monetary easing.
Gold Analysis
Gold pulled back slightly to $5,065 but remains firmly above the psychological $5,000 level. Despite the rate cut delay, the yellow metal continues to find support from:
- Steady central bank buying globally
- Persistent geopolitical uncertainties
- Still up an impressive 73% year-on-year
Gold hit an all-time high of $5,608 in January before correcting. The current consolidation above $5,000 suggests the bull run remains intact.
What This Means for You
A strong US economy typically means higher-for-longer interest rates, which impacts everything from bond yields to mortgage rates. For South African investors, the slightly weaker Rand means offshore investments continue to provide currency diversification benefits.
Ready to review your investment strategy? Contact Old Mutual Secunda at 017 620 3990 or visit us to discuss how to position your portfolio for success.
