Gold prices surged as investors sought safe haven amid US-Israel strikes on Iran
Analysts predict initial spike in gold prices potentially followed by retracement
Tokenized gold already trading at premium during weekend trading
Geopolitical tensions could push gold to new record highs above $5,600
📖 Full Retelling
Global investors rushed to gold as a safe haven asset on March 1, 2026, following intensified military strikes by the United States and Israel against Iran, which have created widespread uncertainty across financial markets and sparked fears of potential disruptions to oil supplies. The heightened geopolitical tensions have triggered significant market reactions, with analysts predicting initial spikes in both gold and oil prices. Edward Meir, an analyst at Marex, noted that commodity markets typically experience knee-jerk reactions to the outbreak of hostilities, suggesting gold could open approximately $200 higher per ounce before potentially drifting lower as markets assess the actual impact on oil flows. Meanwhile, Hugo Pascal, a precious metals trader at Inproved, observed that tokenized gold is already trading at a premium during the weekend when traditional exchanges are closed, with PAX Gold leading at $5,344 per ounce (+2.2%) and Tether Gold climbing to $5,292 per ounce (+1.2%). Market analysts diverge on the magnitude and sustainability of gold's potential rally, with some forecasting new record highs. Fawad Razaqzada at City Index and Forex.com predicted gold prices could reach $5,500 again and possibly surpass January's peak of around $5,600, though he noted gains might be capped by a potential rebound in the U.S. dollar. Conversely, Tai Wong, an independent metals trader, suggested that gold and silver might initially sell off when markets open but would likely find buyers as the situation in Iran remains unclear for weeks to months.
Iran's nuclear program, one of the most scrutinized in the world, has sparked intense international concern. While Iran asserts that its nuclear ambitions are purely for civilian purposes, including energy production, the country historically pursued the secretive AMAD nuclear weapons project (stopp...
Use of gold as a store of value and investment asset
Gold, alongside platinum and silver, is highly popular among precious metals as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets.
A sanctuary, in its original meaning, is a sacred place, such as a shrine, protected by ecclesiastical immunity. By the use of such places as a haven, by extension the term has come to be used for any place of safety. This secondary use can be categorized into human sanctuary, a safe place for peopl...
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Global gas markets face their biggest shock since 2022 on Iran conflict Trump warns Iran as new strikes follow Khamenei’s death U.S. dollar seen strengthening as U.S.-Israel strikes intensify Regional leaders warned Trump of $100+ oil threat, analyst says (South Africa Philippines Nigeria) Investors seek harbour in gold as US and Israel strike Iran By Reuters Commodities Published 03/01/2026, 07:54 AM Updated 03/01/2026, 08:00 AM Investors seek harbour in gold as US and Israel strike Iran 0 Gold Spot US Dollar 1.75% GC 1.03% CL 2.78% PAX Gold US Dollar 0.35% By Anmol Choubey and Anushree Mukherjee March 1 - The U.S. and Israeli strikes on Iran have intensified uncertainty across global markets, with investors closely watching potential safe-haven flows into bullion. Here is some reaction from investors, traders and analysts: EDWARD MEIR, ANALYST AT MAREX "I think you’re going to see a knee jerk spike up in most commodity markets, including gold and oil. This will be a natural response to the outbreak of hostilities, which was rather unexpected in terms of scale and scope.” "I think we could open up by about $200/ounce on gold, but then drift lower over the course of the day. The markets are rather dispassionate when it comes to military conflicts; the only thing investors are ultimately focused on is whether the oil flows will be interrupted so once the initial spike is over, the initial rally tends to fade.” HUGO PASCAL, A PRECIOUS METALS TRADER AT INPROVED "With traditional exchanges closed, tokenised gold is currently trading at a premium, signalling a bullish ’flight to safety’ ahead of the week’s open. Our digital proxies are showing a strong weekend bid." "PAX Gold is currently leading the charge at $5,344/oz (+2.2% since Friday), while Tether Gold has climbed to $5,292/oz (+1.2%)." However, "that weekend proxy premiums often overstate the initial gap but accurately reflect the direction".TIM WATERER, C...
