Synopsis
Gold prices jumped 1% on Wednesday, driven by intensifying US-Israeli airstrikes against Iran that increased geopolitical uncertainty and boosted demand for safe-haven assets. The rebound follows a decline to a one-week low, influenced by a stronger dollar and reduced rate cut expectations amid inflation fears. Global oil and gas prices have also soared due to disruptions in energy supplies in the Middle East.
YEARSGold prices jumped on Wednesday, recovering from recent lows. Intensified US and Israeli airstrikes against Iran have fueled geopolitical uncertainty.Gold Price rose 1% on Wednesday, rebounding from a more than one-week low in the previous session, as U.S.-Israeli airstrikes against Iran intensified. geopolitical uncertainty and supported request for safe haven.
FUNDAMENTALS Spot gold gained 1% to $5,138.46 an ounce by 0052 GMT. Bullion fell to its lowest level since Feb. 20 on Tuesday, weighed by a firmer dollar and diminishing prospects for a rate cut as inflationary concerns intensified amid fears of a potential extension Conflict in the Middle East.
U.S. gold futures for April delivery added 0.5% to $5,147.10.
The U.S. dollar has strengthened, making dollar-denominated assets such as bullion more expensive for other currency holders.
Four days after the start of the war, US President Donald Trump told reporters that the US military had “struck numerous Iranian naval and air targets, saying that ‘almost everything had been destroyed.’
Global oil and gas prices soared as the U.S.-Israeli war with Iran disrupted Middle East energy exports, with Tehran attacking ships and energy facilities, shutting down Gulf shipping and forcing a halt to production from Qatar to Iraq.
Global stock markets fell as disruption to energy supplies in the Middle East exacerbated investors’ concerns about inflation.
Spot gold is up 19% year to date, driven by global turmoil, after surging 64% in 2025. Meanwhile, silver is up more than 16% so far this year.
Spot silver rose 1.4% to $83.27 an ounce on Wednesday, after falling more than 8% last session.
“ETP outflows keep silver vulnerable to near-term volatility and are key to follow, but an undersupplied market suggests a recovery in the months ahead,” Standard Chartered said in a note.
Spot platinum gained 1% to $2,104.25 an ounce, while palladium gained 0.4% to $1,653.
DATA/EVENTS (GMT)
1445 US S&P Global Comp Final PMI February
1445 US S&P Global Comp, Svcs Final PMI February
1,500 ISM N-Mfg US PMI February.
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