Gold Tests Fresh Record

2026-03-02 13:41 By Felipe Alarcon 1 min. read

Gold surged past 5,400 dollars on Monday, testing record highs as a dramatic escalation in Middle East warfare ignited a massive flight to safety.

The joint strikes by the US and Israel that killed Iran’s Supreme Leader have effectively closed the Strait of Hormuz, threatening 20% of the world's oil supply and sending crude oil surging.

This spike in energy costs has revived fears of a fresh inflation wave, prompting investors to abandon currencies and stocks in favor of bullion.

Gold is outperforming as a hedge against the risk of prolonged regional war and potential strikes on Saudi energy hubs like the Ras Tanura refinery.

With OPEC+ providing only a small output hike that failed to calm the market, and major tech and banking stocks tumbling, gold’s role as the ultimate store of value is being reinforced.

The metal has now extended its longest winning streak since 1973 as the world grapples with a locked trade chokepoint and rising global instability.



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Gold Tests Fresh Record
Gold surged past 5,400 dollars on Monday, testing record highs as a dramatic escalation in Middle East warfare ignited a massive flight to safety. The joint strikes by the US and Israel that killed Iran’s Supreme Leader have effectively closed the Strait of Hormuz, threatening 20% of the world's oil supply and sending crude oil surging. This spike in energy costs has revived fears of a fresh inflation wave, prompting investors to abandon currencies and stocks in favor of bullion. Gold is outperforming as a hedge against the risk of prolonged regional war and potential strikes on Saudi energy hubs like the Ras Tanura refinery. With OPEC+ providing only a small output hike that failed to calm the market, and major tech and banking stocks tumbling, gold’s role as the ultimate store of value is being reinforced. The metal has now extended its longest winning streak since 1973 as the world grapples with a locked trade chokepoint and rising global instability.
2026-03-02
Gold Jumps as Middle East Conflict Escalates
Gold climbed more than 2% toward $5,400 per ounce on Monday, reaching an over one-month high as safe-haven demand intensified following joint strikes by the US and Israel on Iran over the weekend. The attacks resulted in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, escalating regional tensions and disrupting maritime traffic in the oil-rich Gulf. Iran responded with retaliatory strikes at US bases across neighboring countries, including the UAE, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq, and Syria. Gold recorded its seventh straight monthly gain in February, the longest streak since 1973, driven by heightened geopolitical tensions and US President Trump’s reshaping of international relations. The rally has also been supported by strong central bank purchases and a broader investor move away from sovereign bonds and currencies.
2026-03-01
Gold Set for a Sharp Advance
Gold prices are poised to surge when trading resumes Sunday night, driven by renewed safe-haven demand after US and Israel's attacks on Iran sharply escalated tensions in the Middle East. In retaliation, Iran moved to restrict traffic through the strategic Strait of Hormuz, a vital route for about one-fifth of the world’s oil and substantial natural gas flows, and launched attacks across neighbouring states, including the United Arab Emirates, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq and Syria. Bullion had already been on the rise, trading at 1-month highs of $5,278 on Friday and approching an all time high of $5,500 hit at the end of January as investors anticipated and attack and weighed aggressive US trade policies against persistently elevated inflation data.
2026-03-01