February 11, 2026, Spot Gold Midday Analysis

In the morning, spot gold showed a narrow oscillation with an upward trend, and in the afternoon, it continued to fluctuate slightly. The market overall remains cautious, with neither bulls nor bears daring to act rashly, and short-term movements are driven by news and technical factors.

The news is straightforward: tonight's U.S. non-farm payroll data is the main event. Weak data is bullish for gold, strong data is bearish; instability in the Middle East provides support for gold prices, and domestic Spring Festival gold buying demand is also supporting prices. Since there are no major data releases during the day, funds are waiting for tonight's data, so volatility is unlikely to be significant.

From a technical perspective, current gold prices are hovering around 5060, with short-term support at the 5000 level—breaking below could lead to further declines. Resistance is in the 5080–5100 range; pushing above that is difficult. Moving averages are flat, and indicators are oscillating, indicating a typical wait-and-see market with no clear directional trend.

In the afternoon, it is highly likely that the market will continue to fluctuate within a narrow range, between 5000 and 5080. It’s safer to wait for tonight’s data before taking action; aggressive traders can enter and exit quickly but should avoid holding large positions. Before the data, light positions and cautious observation are safest; wait until the trend becomes clearer before following up.

It is recommended to focus on support and resistance levels for high and low buying and selling. If prices stabilize around 5000–5200, consider adding small positions with targets near 5060–5080.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng’s layout for specific strategies!!$XAU ‌#XAU