Middle Eastern conflict sparks gold and silver rally, with international gold prices reaching a high of $5,400 per ounce

WealthCoffee · 2026-03-03T10:29:36+00:00

The Middle East situation has dramatically changed due to the missile attacks by the US and Israel on Iran, leading to a sharp rise in gold and silver prices. Gold's opening price broke through $5350 per ounce, and silver also rose to $95 per ounce, with market sentiment being stimulated by the tense situation.

WealthCoffee

2026-03-03 10:29:36

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[Caixin] Sudden Major Changes in Middle East Situation: Is the “Golden Age of Chaos” About to Reappear?

On Saturday, February 28 (local time), the United States and Israel launched missile strikes against Iran, resulting in the deaths of several senior Iranian leaders, including Supreme Leader Khamenei. The US-Iran situation quickly escalated afterward, igniting gold market sentiment.

At the opening on Monday, March 2 Beijing time, both gold and silver, the two major precious metals, surged higher. According to international spot prices, London gold opened above $5,350 per ounce, up 1.3% from the previous trading day’s close; London silver opened at $95 per ounce, approximately 1.4% higher than the previous close.

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