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.

Ilya Spivak, head of global macroeconomics at Tastylive, said, “We saw a significant increase in gold prices yesterday. Now there’s a bit of a digesting phase, and it’s interesting that the panic on Wall Street didn’t spill over into Asian markets.”

Why Is Gold Falling?

The main reasons behind the pullback are profit-taking after recent sharp gains, the US dollar strengthening against major currencies, and cautious statements from Federal Reserve officials regarding interest rate cuts. Additionally, volatility in the AI sector and concerns over trade tensions have pushed the dollar as a safe haven, putting pressure on spot gold.

Dollar Strengthens Amid Geopolitical Concerns

As the dollar gains value, gold and silver priced in dollars become more expensive for holders of other currencies, creating short-term selling pressure.

US President Donald Trump warned on Monday that following the Supreme Court’s cancellation of emergency tariffs, countries should not step back from trade agreements recently negotiated with the US; otherwise, much higher tariffs could be applied under different trade laws.

Asian markets opened choppy after a new AI-driven sell-off on Wall Street but stabilized following Trump’s geopolitical and trade warnings. Gold is reacting not only to the dollar but also to global uncertainties.

Fed Expectations and Interest Rate Outlook

Federal Reserve Chair Christopher Waller said that if upcoming February employment data shows strength, they could keep rates steady at the March meeting. After weak labor performance in 2025, markets are seeking confirmation that the labor market has “found a firmer footing.”

According to CME FedWatch, the market currently expects three 25-basis-point rate cuts this year. These expectations are creating both downward pressure and potential support for gold. Short-term volatility is noticeable, with micro-movements apparent.

Gram Gold and Precious Metals Movements

Gram gold, impacted by the pullback in spot gold, fell 1.2% to 7,292 TL at mid-session. Other metals moved as follows:

• Spot silver dropped 0.9% to $87.39 per ounce.

• Platinum fell 0.5% to $2,142.35 per ounce.

• Palladium diverged, rising 0.4% to $1,750.98 per ounce.

These movements reflect a combination of short-term profit-taking, dollar strength, and global uncertainty. Gold and silver responded more sharply, while palladium showed a modest rise.

Market Sentiment and the Days Ahead

Gold and other precious metals are expected to remain sensitive to dollar movements and global uncertainties in the short term. Spot gold retreated amid profit-taking and dollar strength; gram gold declined in Turkish lira terms. Spot silver and platinum followed similar patterns, while palladium diverged.

AI-driven trading algorithms and micro price fluctuations are causing brief, sharp reactions, often with deviant sentence structures. The trend’s direction in coming days will depend on the dollar index, Fed decisions, and global geopolitical developments.

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