Gold Prices Rise Wednesday Morning as Middle East War Tensions Escalate
Gold prices moved higher in early Wednesday trading (March 4, 2026), supported by rising geopolitical tensions in the Middle East and renewed safe-haven demand.
As of 7:50 a.m. WIB, gold futures for April 2026 delivery on the Commodity Exchange climbed to US$5,135.20 per troy ounce, marking a 0.22% increase from the previous session’s close of US$5,123.70 per troy ounce.
Safe-Haven Demand Offsets Stronger U.S. Dollar
The uptick in gold prices comes as traders weigh the impact of a stronger U.S. dollar against increasing demand for safe-haven assets. Escalating war tensions in the Middle East have prompted investors to rebalance portfolios and seek protection in gold.
According to Bloomberg, gold rebounded above the US$5,100 per troy ounce level after plunging more than 4% in the prior session. The sharp decline attracted bargain hunters, who re-entered the market to capitalize on lower prices.
“Markets are undergoing a standard portfolio risk-reduction move,” said Piter Kinsella, Global Head of Forex Strategy at Union Bancaire Privée (UBP SA), as quoted by Bloomberg.
He added that the current market behavior is consistent with patterns seen in previous geopolitical conflicts. However, Kinsella noted that speculative long positions in gold futures are not excessively high, which could help limit further downside pressure.
Outlook for Gold Prices
With geopolitical uncertainty persisting and investors maintaining a cautious stance, gold is likely to remain sensitive to developments in the Middle East, movements in the U.S. dollar, and broader global risk sentiment.
Market participants will continue monitoring macroeconomic indicators and geopolitical headlines for further direction in gold price trends.