As geopolitical risks increase in global markets, investors are closely watching gold prices. Movements in gram gold, spot gold and oil prices have become more pronounced amid rising war risks and concerns about potential disruptions in global energy supply.

Middle East Crisis Deepens

The flow of news indicating an expansion of the conflict played a decisive role in financial markets. Developments on Wednesday suggested that tensions are beginning to stretch beyond regional boundaries.

A U.S. submarine reportedly sank an Iranian warship off the coast of Sri Lanka, killing at least 80 people. On the same day, NATO air defense systems reportedly intercepted and destroyed an Iranian ballistic missile fired toward Turkey.

And the geopolitical picture does not end there.

The son of Iran’s slain Supreme Leader Ayatollah Ali Khamenei has emerged as one of the leading figures to potentially succeed him. This development strengthens expectations that Tehran may not easily back down from the confrontation. The military campaign launched by the United States and Israel five days ago has already killed hundreds of people and triggered volatility across global markets.

As a result, investors are increasingly pricing in the possibility of a prolonged geopolitical crisis rather than a short-lived escalation.

Volatility in Gold Prices May Continue

Market analysts believe two different dynamics are currently influencing gold prices. The first is the classic safe-haven demand that typically emerges during geopolitical crises. The second is the heightened volatility driven by uncertainty surrounding the conflict.

According to analysts, the ongoing crisis could support gold prices over the longer term. However, until there are clear signals that the conflict is de-escalating, price movements are expected to remain sharp and volatile.

Gold has already delivered a remarkable performance since the beginning of the year. Amid rising geopolitical tensions and economic uncertainty, the precious metal has gained about 20% since the start of 2026, repeatedly hitting new record highs.

Oil Prices Also Surge

Energy markets also reacted quickly to geopolitical developments.

Concerns that oil and natural gas supplies in the Middle East could be disrupted pushed energy prices higher. Brent crude rose 3.26% to $83.99 per barrel on Thursday morning, marking its fifth consecutive session of gains.

Meanwhile, U.S. West Texas Intermediate (WTI) crude climbed 3.70% to $77.42 per barrel.

The main scenario currently being discussed in energy markets is straightforward: if the conflict expands further, global oil supply chains could come under serious pressure.

A New Fed Chair Candidate

Alongside geopolitical developments, there is also notable news on the monetary policy front.

U.S. President Donald Trump officially nominated former Federal Reserve governor Kevin Warsh as the next chair of the U.S. central bank.

Warsh is widely viewed by markets as a policymaker who may be more open to interest-rate cuts, a factor that has already sparked renewed debate about the direction of U.S. monetary policy.

However, markets still expect the Federal Reserve to keep interest rates unchanged at the March 18 meeting.

Investors are now focusing on upcoming U.S. macroeconomic data. Weekly jobless claims due later in the day and the February employment report scheduled for Friday are seen as key indicators for the Federal Reserve’s next policy moves.

How Much Is Gram Gold Now?

Sharp movements in global gold prices have also affected the Turkish market.

Gram gold, which started the week above 8,000 TL in Istanbul’s Grand Bazaar, quickly retreated to around 7,400 TL before partially recovering and stabilizing near 7,500 TL.

Earlier in the week, spot gram gold had tested 7,661 TL. On Tuesday, prices fell sharply and dropped to 7,066 TL. By the third trading day of the week, however, the market began to recover, pushing gram gold back above 7,300 TL.

In short, the main factor determining the direction of gold prices is no longer limited to inflation or interest rates.

Latest Gold and Oil Prices

Current market levels are as follows:

• Spot Gold: $5,177

• Gram Gold: 7,500 TL

• Brent Crude: $83.99

• WTI Crude: $77.42

As global markets continue to monitor geopolitical developments closely, investors are debating whether gold prices could reach new highs if tensions continue to escalate.

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The post Gold and Oil Prices Jump Amid Middle East Crisis appeared first on Coin Engineer.

The initial market reaction did not reflect escalation fears. Instead, traders appeared to price in the possibility that a sudden leadership transition in Iran could shorten the conflict’s trajectory. The move unfolded during thin Sunday liquidity, amplifying volatility and accelerating price discovery before traditional markets reopened.

The roughly 6% rebound translated into an estimated $80 billion shift in total crypto market capitalization in a matter of hours. As often happens during geopolitical shocks, crypto markets reacted first, while oil and equity futures had yet to fully open and validate — or challenge — the optimism.

Leadership Vacuum and Market Interpretation

Under Iran’s constitution, the death of the Supreme Leader activates a temporary leadership council composed of the president, the judiciary chief, and a senior cleric from the Guardian Council. The Assembly of Experts is then tasked with appointing a successor, though no fixed timeline exists.

That uncertainty cuts both ways. A prolonged power struggle could intensify regional instability. But a structured and contained transition might reduce the likelihood of broader escalation. Bitcoin’s immediate surge suggests traders leaned toward the latter interpretation, at least in the first wave of pricing.

Importantly, the move occurred before oil markets delivered their verdict. Crypto, operating 24/7, once again became the first asset class to absorb and translate geopolitical headlines into tradable momentum.

Trump’s Statement and Escalation Risks

U.S. President Donald Trump called on the Iranian public to overthrow the regime, describing the moment as a rare historic opportunity. He also stated that U.S. strikes would continue as long as necessary. Meanwhile, missile exchanges between Iran and Israel persisted, and it remains unclear whether a national mourning period would slow or intensify military operations.

Under typical circumstances, such rhetoric would pressure risk assets. Yet Bitcoin advanced before any of these uncertainties were resolved. The market’s behavior implies that traders are weighing transition dynamics more heavily than immediate battlefield developments — at least for now.

Oil, Inflation, and the Broader Macro Test

Iran sits at the center of a region responsible for roughly one-third of global crude exports. If markets interpret the Supreme Leader’s death as a trigger for supply disruption, oil prices could spike. Higher energy costs would likely lift inflation expectations, tighten financial conditions, and weigh on risk assets — including cryptocurrencies.

Conversely, if succession mechanisms stabilize decision-making and prevent broader war expansion, risk sentiment could remain supported. In that scenario, Bitcoin may attempt another test of the $70,000 threshold, a level briefly approached earlier in the week but not sustained.

For now, $68,000 represents more than a technical level. It reflects a rapid repricing of geopolitical probability. The true validation — or rejection — of Sunday’s rally will likely emerge once oil and equity futures fully digest the news.

Bitcoin moved first. The macro confirmation is still pending.

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