Gold Hits USD5,400, Silver Soars to USD90 Amid Middle East Crisis

RunWithRugs · 2026-03-04T12:00:53+00:00

Precious metals markets experienced extreme volatility this week, with gold rising to over $5,400 per ounce amid military tensions in the Middle East, before dropping sharply on profit-taking. Silver followed a similar pattern, highlighting investor anxiety and uncertainty.

RunWithRugs

2026-03-04 12:00:53

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(MENAFN) Precious metals markets were thrown into turmoil this week, with gold and silver staging dramatic swings as investors scrambled for safe-haven shelter amid an escalating military crisis in the Middle East.

Gold catapulted past $5,400 per ounce on Monday following joint military operations conducted by US and Israeli forces — a historic surge that underscored the depth of investor anxiety over the widening regional conflict. Silver mirrored the move with equal ferocity, skyrocketing to $90 per ounce as demand for hard assets flooded global markets.

The rally proved short-lived. By Tuesday, profit-taking and shifting sentiment reversed course sharply. Gold shed 4.08% by 1135 GMT, pulling back to approximately $5,100 per ounce. Silver sustained even steeper losses, tumbling over 10% to $80 per ounce — erasing a substantial portion of the prior session’s gains in a matter of hours.

The violent two-day swing reflects the raw uncertainty gripping financial markets as investors grapple with an unpredictable conflict that has already reshaped regional dynamics. Analysts note that the reflexive rush into gold and silver is consistent with historical patterns during geopolitical crises, though the speed and scale of both the advance and the retreat point to an unusually high degree of market anxiety.

With no immediate resolution to the Middle East confrontation in sight, traders are bracing for continued volatility across commodities markets in the sessions ahead.

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