Why did gold spike to $5,594 and then drop about 10%?

A build-up of speculative leverage likely drove the surge and reversal. Rapid buying in futures and China gold ETFs lifted prices, but momentum then faded. When margin is high, small shifts can trigger large moves both ways. This makes short-term prices jumpy, even if long-term demand stays steady.

How do Chinese flows affect Indian gold price today February 15?

Chinese trading can steer global futures, which feed into Indian quotes through dollar gold and the rupee. Wider Chinese premiums or higher leverage add volatility. That spillover shows up in MCX and retail tags, even if local jewellery demand is stable for the week.

Is gold still a safe haven after this drop?

Gold’s role is long-term wealth insurance, not a daily stabilizer. Short bursts of volatility reflect trading leverage, not the metal’s core function. Keep a 5% to 10% strategic allocation and add on weakness. This approach respects the safe haven debate without relying on short-term calls.

How should I buy gold in India during volatile weeks?

Stagger entries across days or weeks, compare jeweller quotes with ETF or SGB prices, and keep buy-sell spreads low. Use small tickets to average costs. Avoid high leverage. If you add silver, size it carefully because silver swings more than gold during stressed markets.

What signals should I track before placing an order?

Watch the rupee, import duty policy talk, and global futures like GC=F. Check city premiums over international prices and see if spreads look fair. Review China trading tone and key US data days. If all three align, you can place a tranche and reassess later.

Global Market Insights

Gold Today, February 15: China Leverage Spurs Crash Risk After Record

ByDanny Kontos February 15, 2026February 15, 2026

Gold price today February 15 sits in the shadow of a sharp swing. Bullion spiked to $5,594 per ounce on Jan 29, then slid about 10%. Scott Bessent called it a speculative blow-off, with China-driven ETF and futures leverage behind the jump and drop. For Indian buyers, these flows can move prices fast through the rupee and import duty channels. We break down what changed, what it means for city quotes, and how to buy with discipline now.