Gold Erases 2026 Gains as Middle East War Fuels Inflation Fears

Dow Jones03-23

By Giulia Petroni

Gold wiped out all of this year's gains as the war in the Middle East stoked worries about inflation and higher interest rates, dimming the outlook for the non-yielding asset.

In mid-morning European trade on Monday, New York futures fell 6.1% to $4,298.50 a troy ounce after slipping to $4,100 earlier in the session. Other precious metals followed suit, with silver futures down 7.1% to $64.61 an ounce and platinum sliding 9% to $1,791.80 an ounce.

While geopolitical tensions typically support safe-haven demand, the inflationary impact of higher energy costs is pressuring bullion.

Brent crude, the global oil benchmark, remains above $100 a barrel, threatening to prolong the Federal Reserve's yearslong inflation fight. Meanwhile, a stronger U.S. dollar is making dollar-denominated commodities more expensive for overseas buyers.

The recent selloff has also been amplified by forced liquidations, as investors unload positions to cover losses in volatile equities and commodities markets, according to market watchers. Despite the sharp drop, technical indicators suggest gold could be oversold.

"Historical patterns indicate such declines during macro shocks are often followed by sustained rebounds, with speculative positioning already increasing in anticipation of a recovery," said Soojin Kim, analyst at MUFG.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

March 23, 2026 05:47 ET (09:47 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2621771239?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-23 17:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2621771239","market":"sg","top_or_hot":-1,"title":"Gold Erases 2026 Gains as Middle East War Fuels Inflation Fears","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Giulia Petroni \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Gold wiped out all of this year's gains as the war in the Middle East stoked worries about inflation and higher interest rates, dimming the outlook for the non-yielding asset. \n</p>\n<p>\n  In mid-morning European trade on Monday, New York futures fell 6.1% to $4,298.50 a troy ounce after slipping to $4,100 earlier in the session. Other precious metals followed suit, with silver futures down 7.1% to $64.61 an ounce and platinum sliding 9% to $1,791.80 an ounce. \n</p>\n<p>\n  While geopolitical tensions typically support safe-haven demand, the inflationary impact of higher energy costs is pressuring bullion. \n</p>\n<p>\n  Brent crude, the global oil benchmark, remains above $100 a barrel, threatening to prolong the Federal Reserve's yearslong inflation fight. Meanwhile, a stronger U.S. dollar is making dollar-denominated commodities more expensive for overseas buyers. \n</p>\n<p>\n  The recent selloff has also been amplified by forced liquidations, as investors unload positions to cover losses in volatile equities and commodities markets, according to market watchers. Despite the sharp drop, technical indicators suggest gold could be oversold. \n</p>\n<p>\n  \"Historical patterns indicate such declines during macro shocks are often followed by sustained rebounds, with speculative positioning already increasing in anticipation of a recovery,\" said Soojin Kim, analyst at MUFG. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 23, 2026 05:47 ET (09:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gold Erases 2026 Gains as Middle East War Fuels Inflation Fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGold Erases 2026 Gains as Middle East War Fuels Inflation Fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-23 17:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Giulia Petroni \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Gold wiped out all of this year's gains as the war in the Middle East stoked worries about inflation and higher interest rates, dimming the outlook for the non-yielding asset. \n</p>\n<p>\n  In mid-morning European trade on Monday, New York futures fell 6.1% to $4,298.50 a troy ounce after slipping to $4,100 earlier in the session. Other precious metals followed suit, with silver futures down 7.1% to $64.61 an ounce and platinum sliding 9% to $1,791.80 an ounce. \n</p>\n<p>\n  While geopolitical tensions typically support safe-haven demand, the inflationary impact of higher energy costs is pressuring bullion. \n</p>\n<p>\n  Brent crude, the global oil benchmark, remains above $100 a barrel, threatening to prolong the Federal Reserve's yearslong inflation fight. Meanwhile, a stronger U.S. dollar is making dollar-denominated commodities more expensive for overseas buyers. \n</p>\n<p>\n  The recent selloff has also been amplified by forced liquidations, as investors unload positions to cover losses in volatile equities and commodities markets, according to market watchers. Despite the sharp drop, technical indicators suggest gold could be oversold. \n</p>\n<p>\n  \"Historical patterns indicate such declines during macro shocks are often followed by sustained rebounds, with speculative positioning already increasing in anticipation of a recovery,\" said Soojin Kim, analyst at MUFG. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 23, 2026 05:47 ET (09:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2621771239","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2621771239","pubTimestamp":1774259220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Gold wiped out all of this year's gains as the war in the Middle East stoked worries about inflation and higher interest rates, dimming the outlook for the non-yielding asset.In mid-morning European trade on Monday, New York futures fell 6.1% to $4,298.50 a troy ounce after slipping to $4,100 earlier in the session. Other precious metals followed suit, with silver futures down 7.1% to $64.61 an ounce and platinum sliding 9% to $1,791.80 an ounce.While geopolitical tensions typically support safe-haven demand, the inflationary impact of higher energy costs is pressuring bullion.Brent crude, the global oil benchmark, remains above $100 a barrel, threatening to prolong the Federal Reserve's yearslong inflation fight. Meanwhile, a stronger U.S. dollar is making dollar-denominated commodities more expensive for overseas buyers.The recent selloff has also been amplified by forced liquidations, as investors unload positions to cover losses in volatile equities and commodities markets, accordi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"中东战争加剧通胀担忧，金价抹去2026年涨幅","themeId":"dd16f1716242006faa47a8afd92dc28a","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"By Giulia Petroni \n\n\n \n\n\n  Gold wiped out all of this year's gains as the war in the Middle East stoked worries about inflation and higher interest rates, dimming the outlook for the non-yielding asset. \n\n\n  In mid-morning European trade on Monday, New York futures fell 6.1% to $4,298.50 a troy ounce after slipping to $4,100 earlier in the session. Other precious metals followed suit, with silver futures down 7.1% to $64.61 an ounce and platinum sliding 9% to $1,791.80 an ounce. \n\n\n  While geopolitical tensions typically support safe-haven demand, the inflationary impact of higher energy costs is pressuring bullion. \n\n\n  Brent crude, the global oil benchmark, remains above $100 a barrel, threatening to prolong the Federal Reserve's yearslong inflation fight. Meanwhile, a stronger U.S. dollar is making dollar-denominated commodities more expensive for overseas buyers. \n\n\n  The recent selloff has also been amplified by forced liquidations, as investors unload positions to cover losses in volatile equities and commodities markets, according to market watchers. Despite the sharp drop, technical indicators suggest gold could be oversold. \n\n\n  \"Historical patterns indicate such declines during macro shocks are often followed by sustained rebounds, with speculative positioning already increasing in anticipation of a recovery,\" said Soojin Kim, analyst at MUFG. \n\n\n \n\n\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 23, 2026 05:47 ET (09:47 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":false,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2621771239","isCrawlerRequest":true}