Global Gold Prices Rise Amid US-Israel-Iran Conflict Escalation
Global gold prices strengthened on early week trading as geopolitical tensions in the Middle East intensified. The escalation of conflict involving the United States, Israel, and Iran prompted investors to seek safe-haven assets.
According to TradingView data, on Monday 2 March 2026 at 11:32 WIB, spot market gold prices were recorded at $5,361.075 per troy ounce, a rise of 82.565 points or 1.56 per cent compared with the previous close.
Early in the session, gold prices surged approximately 2.2 per cent and broke through $5,390 per troy ounce before movements became more moderate.
Historically, gold frequently serves as a safe-haven asset when uncertainty increases.
Widening geopolitical tensions, coupled with US foreign policy deemed increasingly aggressive under President Donald Trump’s administration, have extended the upward trend in the precious metal.
Since the beginning of the year, global gold prices have strengthened approximately 25 per cent. Although prices corrected from record highs above $5,595 per troy ounce in late January, investor interest remains sustained.
According to Bloomberg, analysts at Franklin Templeton Institute assessed that in market conditions prioritising risk management, gold tends to be favoured. Investors were willing to pay a risk premium first rather than consider long-term fundamentals. They recommended selective exposure to gold rather than taking short positions in the stock market.
Geopolitical tensions also impacted energy markets. Oil prices surged early Monday trading due to concerns about disruptions to global supply should the Strait of Hormuz be affected by conflict, though the gains later moderated.
At the same time, the US dollar index strengthened by 0.4 per cent.
“This phenomenon demonstrates that real assets such as gold are again viewed as a form of value protection amid unusual circumstances,” analysts noted.
On Monday 2 March 2026 morning Singapore trading, spot market gold prices remained in positive territory. Meanwhile, silver prices fell marginally, platinum weakened, and palladium strengthened.