Why aren’t gold prices rising, despite Iran war uncertainty?
Al Jazeera
Gold holds steady despite war and rising oil prices, as its recent volatility and a strong dollar reduce its safe-haven appeal.
As the war on Iran entered its 18th day on Tuesday, the price of gold, usually considered the safe-haven asset in times of uncertainty, has remained unexpectedly steady.
Since the United States and Israel first launched strikes on Iran on February 28, the conflict has escalated across the region, sparking concerns about the knock-on effect for the global economy.
On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), announced that the Strait of Hormuz – through which 20 percent of the world’s oil and gas is transported – was “closed”; a move that sent oil prices soaring above $100 per barrel.
Stock prices have also fallen over the past two weeks amid uncertainty over the war on Iran, but gold prices have remained steady.
Gold has remained broadly steady at around $5,000 an ounce in recent days.
The conflict has mutated into a zero-sum collision of competing messianic frameworks.
Afghan officials say a suspected Pakistani air strike hit a drug rehabilitation centre in Kabul, killing hundreds.
Iran says at least 56 of its heritage sites damaged or destroyed in war.
Iran’s Araghchi calls for global condemnation of US-Israel ‘military aggression’ that disrupted transit through the Strait of Hormuz.
Sam Kerr nets the opener as Australia beat China 2-1 to reach the final of the 2026 Women’s AFC Asian Cup.
From energy exports to tourism, the economies of Gulf nations are at risk from a prolonged conflict in the Middle East.
Afghan authorities say a Pakistani attack has killed hundreds of civilians; Islamabad rejects the claim as ‘false’.
As British pomp and pageantry await the Nigerian leader, analysts expect the visit will focus on the economy. But some in the diaspora are sceptical.
Lebanon’s Palestinian refugees suffer amid war, facing insecurity and trauma, in camps under attack.
The US-Israeli attacks target Iranian cities as the conflict spreads to the region and causes a global energy crisis.
As war engulfs Iran, neighbouring states quietly prepare for a potential refugee exodus across already fragile borders.