March 10, 2026 08:01
Gold prices rose following comments from President Trump suggesting a potential end to the conflict between Iran and the U.S. Candaş Atalay, CEO of Yatırımım Trader, noted that global markets are pricing in a geopolitical crisis, stating, “If conflicts continue, investors will return to gold purchases.”
Gold prices climbed on Monday, March 10, as President Donald Trump indicated the ten-day-old war between Iran, Israel, and the U.S. Could be nearing a resolution. The increase coincided with easing concerns about rising inflation in the U.S. A weaker dollar similarly provided support for the precious metal. This move in gold reflects the market’s sensitivity to geopolitical events and their potential impact on economic stability.
Spot gold was up 1% at $5188 per ounce as of 11:50 a.m.
Gram gold is trading at 7348 TL, up 1.03%.
Silver is currently trading at $89.24 per ounce.
Energy prices surged after Iran threatened to close the Strait of Hormuz, a critical waterway for global oil supply, with Brent crude reaching as high as $116 per barrel. Trump’s comments about a potential end to the war brought the price of Brent crude down to $94 per barrel. However, Trump also warned that attacks could escalate if the Strait of Hormuz remains closed.
Markets are now awaiting the release of U.S. Consumer price index data for February on Wednesday and the U.S. Core inflation gauge (PCE) on Friday. Both data points are crucial for the Federal Reserve’s interest rate decisions, which in turn will significantly influence gold’s trajectory.
Candaş Atalay, CEO of Yatırımım Trader, observed that gold prices experienced moderate pressure but showed a significant recovery compared to the previous day, commenting:
“In March 2003, when the U.S. Attacked Iraq, gold fell by 4.7% in the first two weeks. In June of last year, when the U.S. Launched attacks targeting Iran’s nuclear program, gold lost 2.9% within five trading sessions. However, following Russia’s invasion of Ukraine, gold gained 7% in the first ten days of the conflict.”
Gold is generally purchased in the medium term during times of crisis. However, in some crisis periods, investors and the markets generally need liquidity, and gold is often among the first assets sold.
Last week, the world’s largest gold-backed investment fund, GLD, saw investor liquidations. The desire to convert assets to cash reached its highest level since February 2021.
‘IF CONFLICTS CONTINUE, INVESTORS WILL RETURN TO GOLD’
The gold market expert stated, “Global financial markets are not pricing in a prolonged geopolitical crisis.” He added that the general expectation is for tensions to ease quickly and for markets to gradually stabilize. “If conflicts continue, this will increase uncertainty and risks in the global financial markets. A prolonged war in the Middle East will redirect investors back to gold.”
