Gold Stabilizes Amid Algorithmic Sell-Off and Fed Rate Outlook

Gold steadied near $4,926.79 after a 3.2% intraday drop on February 12, amid a broader selloff across financial markets potentially amplified by algorithmic trading. The pullback followed volatile trading as investors weighed the Federal Reserve’s likely stance on interest rates in response to January jobs data, which reduced urgency for a midyear rate cut. Silver rose 0.6% to $75.72; platinum and palladium also climbed. The dollar was little changed. Looking ahead, inflation figures due Friday could shape policy expectations and influence precious metals, which benefit from lower interest rates.