Editor’s Note
This article reports a sharp decline in precious metal prices on Lunar New Year’s Day 2026. The figures mentioned are based on market data available at the time of writing and may be subject to change.
On February 17, 2026, the first day of the Lunar New Year, international precious metal prices suddenly plunged. As of the time of writing, spot gold has fallen below $4,900, down nearly 2% for the day. Spot silver has dropped below $75, down over 4% for the day.
According to a report from CCTV Finance, many major global markets are closed today due to traditional holidays, resulting in thin trading activity in the precious metals market.
Against the backdrop of cooling expectations for Federal Reserve interest rate cuts, gold encountered resistance at the key psychological level of $5,000 per ounce. This, combined with profit-taking by some investors, intensified the downward pressure on precious metal prices.
On the news front, the second round of negotiations between the United States and Iran, as well as a new round of talks between Russia, the United States, and Ukraine, are scheduled to take place in Geneva, Switzerland, on February 17 (local time).
It is reported that the Russia-US-Ukraine talks will discuss territorial issues, and Russian and Ukrainian representatives may engage in bilateral contact. The Russian side emphasized that the negotiations must yield results rather than be delayed, while Trump pressured Ukrainian President Zelensky to reach an agreement with Russia “quickly.”
