Oil, Gold Climb as War Fears Rattle Global Markets
Oil, Gold Climb as War Fears Rattle Global Markets
LONDON, March 1, 2026 — Oil and gold prices climbed while global equities came under pressure on Sunday as investors shifted toward safe-haven assets amid escalating war concerns.
Brent crude rose to around $73 per barrel from roughly $70 before tensions intensified, driven by fears of potential disruption to oil flows through the Strait of Hormuz, a critical shipping route.
Gold surged above $5,200 an ounce, extending gains as investors sought refuge in the traditional safe-haven asset during heightened geopolitical uncertainty.
The U.S. dollar remained firm with an upward bias, reflecting demand for liquidity and perceived safety in times of crisis.
Equity markets, meanwhile, faced selling pressure as investors weighed the risk of slower global growth and rising costs linked to the conflict.
Cryptocurrencies were volatile, with Bitcoin trading around $66,000. Unlike gold, digital assets showed movement but lacked a strong breakout.
Analysts said markets remain highly sensitive to developments, with any sign of an expansion in the conflict likely to trigger sharp price swings in the coming days.
