Gold Prices Soar Past USD5,400 Amid U.S.-Israel Strikes on Iran

RunWithRugs · 2026-03-07T05:45:56+00:00

Global gold prices soared 2.44% amid investor panic following U.S. and Israeli strikes on Iran, indicating heightened geopolitical tensions. Precious metals like silver also rose as markets reacted to increased risks. The Strait of Hormuz's potential closure adds to market instability.

RunWithRugs

2026-03-07 05:45:56

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(MENAFN) Global gold prices spiked sharply on Monday as investors scrambled toward safe-haven assets following the United States and Israel’s devastating weekend strikes on Iran, sending shockwaves through international financial markets already on edge over Middle East tensions.

Spot gold surged 2.44% to $5,406 per ounce by 10:15 a.m. local time (0715 GMT) on Monday — a significant single-session gain that underscored the depth of investor anxiety gripping global markets in the wake of the military assault.

The broader precious metals complex moved in lockstep with gold, as silver climbed 2.05% to $95.8 per ounce, reflecting a sweeping flight to safety across commodity markets as geopolitical risk premiums surged.

Market analysts note that precious metals have long served as a traditional financial refuge during periods of armed conflict and geopolitical turmoil, with investors consistently rotating out of riskier assets when military flashpoints ignite.

Adding further pressure to an already volatile outlook, the potential effective closure of the Strait of Hormuz — one of the world’s most strategically vital maritime chokepoints — loomed as a critical wildcard for global market stability in the sessions ahead.

With no immediate signs of de-escalation between Washington, Tel Aviv, and Tehran, traders and analysts warned that commodity markets could face sustained turbulence as the conflict’s full economic consequences continue to crystallize.

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