Gold Prices Lack Direction Ahead of CPI; Rate Cut Uncertainty Weighs on Precious Metals

Published: February 14, 2026

CPI in Focus as Gold Trades Sideways

Gold prices steadied during early Asian trading but remained under pressure as uncertainty surrounding the Federal Reserve’s rate outlook intensified. Markets are now focused on the upcoming U.S. Consumer Price Index (CPI) release for further inflation signals.

Spot gold slipped 0.1% to $4,915.40 per ounce, while April futures fell to $4,937.60 per ounce. The metal had dropped more than 3% in the previous session.

Dollar Strength and Labor Data Weigh

Stronger-than-expected U.S. nonfarm payrolls data reduced expectations for aggressive rate cuts, supporting the U.S. dollar and pressuring precious metals.

Outlook and Volatility

Gold has struggled to find clear direction since late January’s flash crash. Elevated volatility continues to impact investor positioning ahead of key inflation data.

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