Global markets are set to close the first week of March under the growing influence of geopolitical risk stemming from the Middle East conflict. One of the most visible market responses has been the sharp appreciation of the US Dollar which climbed to a three-month high, said an expert.
Gold prices are currently navigating heightened uncertainty trading at around $4,605 per ounce, caught between opposing forces that make it difficult to establish a clear short-term trend. On the one hand, the macroeconomic backdrop in the US has reinforced expectations of higher interest rates for longer.
Escalating tensions in the Middle East have sent shockwaves through global markets, pushing oil and gold sharply higher and raising questions on near-term outlook for regional equities, said a financial expert. Brent crude surged by 13% to $82 a barrel driven by fears of disruption in Strait of Hormuz.
Metso, a leading provider of end-to-end solutions for the aggregates, minerals processing and metals refining industries, has won a contract to deliver its crushers to Grupo Mexico’s La Caridad copper concentrator plant.
Gold was steady on Wednesday but remained on track for its strongest annual gain in over four decades, while other precious metals fell sharply as investors booked profits after a strong, record-setting rally.
Gold and silver prices logged new record highs today, driven by demand for safe-haven assets and growing expectations of another cut in US interest rates next year. Platinum and palladium prices also saw notable gains, said a report.
Sudan’s state-owned Mineral Resources Company has announced the arrival of 16 mining-waste processors into the country as gold production rebounds, amid concerns over artisanal mining, resource control and environmental damage.
The quarterly gold demand (including OTC) soared to hit 1,313 tonne ($146 billion in value terms) mainly driven by a powerful combination of an uncertain and volatile geopolitical environment, according to a report by World Gold Council.
Gold and silver prices tumbled on Friday as investors around the world took profits after a historic rally that sent precious metals to record highs, a retreat accelerated by a rebound in the US dollar and shifting expectations around American monetary policy.
Precious metals kick-started the New Year on a strong note resuming their rally after unprecedented gains in 2025. Spot gold climbed 1.3% to $4,372 per ounce on Friday, while spot silver added 2.8% to hit $73.30 per ounce after hitting a record high last year.
