The price of gold futures on the New York Mercantile Exchange hit a new historical high on the 21st. Among them, the most actively traded gold futures in February 2026 broke through $4430 per ounce during trading. The spot gold price in London broke through the $4400 per ounce mark on the 22nd local time, setting a new historical high. Bloomberg article analysis believes that the intensification of geopolitical tensions and market expectations for further interest rate cuts by the Federal Reserve are the main reasons for the surge in gold prices. The article also states that the continuous purchase of gold by central banks and the inflow of funds from gold exchange traded funds (ETFs) have pushed up the price of gold. According to data compiled by Bloomberg, gold backed ETFs have seen capital inflows for five consecutive weeks. According to data from the World Gold Council, the total holdings of these funds have been increasing every month except for May this year. (New Society)