4 March 2026 (The Capital Post)— Gold prices rose more than 1 per cent as escalating conflict in the Middle East increased demand for the precious metal as a safe-haven asset, traders and analysts said on Wednesday.
Benchmark spot gold climbed above US$2,300 per ounce in early Asian trading, extending gains from the previous session when investors sought protection amid heightened geopolitical tensions. COMEX gold futures also strengthened, reflecting broader market appetite for assets perceived as lower risk.
Analysts noted that uncertainty linked to the widening conflict has driven investors toward gold, which traditionally benefits during periods of geopolitical stress and financial market volatility. The move comes even as global equities and riskier assets experience downward pressure.
“Gold has regained its appeal as a haven asset given the current geopolitical backdrop,” one market strategist said, adding that safe-haven flows are prominent while traders reassess risk sentiment.
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The US dollar weakened slightly against major currencies, further supporting gold prices by making bullion cheaper for holders of other currencies. Elsewhere, oil prices stayed elevated as traders factored in the potential impact of the Middle East conflict on supply dynamics.
Despite recent gains, some analysts cautioned that gold’s advance could face resistance if markets stabilise or if risk appetite returns in core economies.-The Capital Post
