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Gold prices drop as investors, unsettled by the Iran crisis, keep seeking safety in the US dollar

Gold prices drop as investors, unsettled by the Iran crisis, keep seeking safety in the US dollar

101 finance101 finance2026/03/09 12:42
By:101 finance

Commodity Markets React to Ongoing Conflict

On Monday, oil prices surged past $100 per barrel, reaching heights last seen in 2022, as the ongoing conflict showed no signs of resolution and heightened fears of a prolonged disruption in supply.

Meanwhile, gold futures dropped by $56.90, or 1.1%, to $5,101.80 per ounce. This decline erased the 1.6% gain from Friday and matched last week's losses, marking the steepest weekly percentage drop since late January. Silver also experienced a downturn, falling 47 cents, or 0.5%, to $83.82 per ounce. The metal saw nearly a 10% decrease over the past week, its sharpest decline since January 30.

Amid these market shifts, investors sought safety in the U.S. dollar, leading to a rise in the ICE Dollar Index DXY.

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