Gold price near $5,070 after Trump tariff jolt — what traders watch next week
London, Feb 21, 2026, 17:17 GMT — The market finished the session. Gold punched back above $5,000 an ounce Friday, staging a sharp rally late in the week that pushed bullion squarely into focus just before markets reopen on Sunday. By 1908 GMT, spot gold had risen 1.5% to $5,071.48, with U.S. April futures closing up 1.7% at $5,080.90. Spot silver surged 5.8%, landing at $82.92. “He will try to re-establish tariffs using other statutes, which will promote volatility,” said independent metals trader Tai Wong. Markets are still reflecting expectations for two quarter-point Fed cuts this year, beginning in June.