SYDNEY — With escalating U.S.-Iran tensions threatening to disrupt 20% of global oil supply through the Strait of Hormuz, Australian investors are increasingly favoring physical gold and gold mining stocks over Bitcoin as a store of value, according to market participants and fund flow data on Tuesday, March 24, 2026.

Gold prices stabilized around $4,360 per ounce after sharp declines earlier in the week, while Bitcoin traded near $70,000, showing resilience but failing to deliver the classic “digital gold” safe-haven performance many had anticipated. The divergence highlights a broader reassessment among retail and institutional investors Down Under, where superannuation funds and self-managed accounts grapple with geopolitical risk, sticky inflation and higher-for-longer interest rates.

The conflict intensified after U.S. and Israeli strikes on Iranian targets in late February, prompting Tehran to restrict shipping in the Strait of Hormuz. Oil prices surged above $100 a barrel at times, fueling inflation fears that have weighed on both assets but hit gold particularly hard in recent sessions. Australian gold miners on the S&P/ASX 200, such as Northern Star Resources and Evolution Mining, rebounded modestly Tuesday as the benchmark index edged higher, reflecting selective buying in the resources sector.

Gold, long viewed as the ultimate crisis hedge, initially spiked above $5,000 per ounce in early March amid fears of prolonged disruption but has since erased much of its 2026 gains. Spot prices hovered near $4,360-$4,394 in futures trading, down significantly from February peaks. The metal’s recent weakness stems from a stronger U.S. dollar, elevated real yields and profit-taking as diplomatic talks offered a sliver of hope for de-escalation.

Bitcoin, meanwhile, has held relatively steady around $69,000-$71,000 despite the turmoil. Some analysts noted the cryptocurrency outperformed gold in the initial phase of the conflict, gaining roughly 10% while bullion retreated. Proponents argue its decentralized nature and 24/7 trading make it a modern alternative during periods when traditional markets face liquidity constraints. Yet its correlation with risk assets, including equities and oil, has limited its safe-haven credentials this time.

In Australia, the choice between the two assets carries unique local considerations. The Australian dollar has weakened against the greenback amid global uncertainty, boosting the local-currency value of gold for domestic holders. Gold mining stocks listed on the ASX, including Northern Star, Newmont’s local shares and Evolution Mining, have seen volatile swings but attracted bargain hunters Tuesday as the broader index recovered slightly.

Superannuation funds and exchange-traded products provide easy exposure. Australian Bitcoin ETFs, such as VanEck Bitcoin ETF (VBTC) and others, have experienced mixed flows in 2026. While U.S. spot Bitcoin ETFs recorded billions in inflows recently, Australian crypto products saw inflows halve in late 2025 and early 2026 amid price corrections. Gold-focused ETFs and physical bullion dealers, by contrast, reported steady demand from conservative investors seeking tangible protection.

Financial advisers in Sydney and Melbourne say retail clients are split. Younger, tech-savvy investors with higher risk tolerance continue allocating to Bitcoin via ETFs or direct holdings, viewing it as “digital gold” with growth potential. Older or more conservative savers, particularly those nearing retirement, are rotating toward gold or gold miners, citing its 5,000-year history as a crisis asset and its lack of counterparty risk.

“Geopolitical shocks like the Hormuz situation remind investors that Bitcoin still moves with equities and liquidity conditions,” said one Melbourne-based wealth manager who declined to be named. “Gold may not always rally immediately, but it has never gone to zero.”

Institutional data underscores the nuance. Australian Bitcoin ETFs managed several hundred million in assets as of early 2026, with flows turning positive in March on U.S. momentum but remaining sensitive to local sentiment. Gold exposure through ASX-listed miners and ETFs has been more stable, though recent price action in bullion caused temporary weakness in mining shares.

The Reserve Bank of Australia’s monetary policy adds another layer. With inflation concerns amplified by energy prices, markets have pushed back expectations for rate cuts. Higher rates increase the opportunity cost of holding non-yielding gold, yet they also support the currency and can indirectly benefit resource exporters. Bitcoin, often treated as a growth asset, suffers when liquidity tightens.

Tax and regulatory differences matter too. Capital gains tax applies to both assets in Australia, but gold bullion held physically can qualify for certain concessions in some structures, while crypto remains fully taxable with added complexity around record-keeping. Self-managed super funds have increased allocations to both, but compliance and custody requirements differ sharply.

Looking ahead, analysts debate which asset is better positioned. Gold could regain luster if Hormuz disruptions persist and inflation expectations climb further. Central banks worldwide, including those in Asia, continue buying physical gold, providing structural support. Bitcoin’s fate hinges on institutional adoption via ETFs, corporate treasury interest and eventual regulatory clarity in major jurisdictions.

For now, the data shows a cautious tilt toward gold among Australian investors facing genuine supply shock risks. ASX gold stocks posted gains Tuesday even as the broader market remained tentative, while Bitcoin traded in a relatively narrow range.

The debate between gold and Bitcoin is unlikely to resolve quickly. Both assets have proponents who see them as hedges against fiat currency debasement and geopolitical instability. In the current environment of oil-driven inflation fears and delayed rate relief, however, many Australian portfolios are quietly adding more physical or equity exposure to the yellow metal while trimming or holding steady on cryptocurrency positions.

As the situation in the Middle East evolves, with President Donald Trump extending deadlines for potential strikes and Iran maintaining its stance on the strait, investors will continue weighing timeless reliability against technological disruption. For Australians, whose economy remains tied to commodities, the traditional choice appears to be regaining favor — at least until the next chapter in the crisis unfolds.

Mumbai: Zerodha, one of India’s largest stockbrokers, has doubled its brokerage fees for certain intraday derivatives trades t0o ₹40 per order from April 1 as declining volumes have raised the likelihood of similar moves by peers.

The firm said in a client communication that the higher charge will apply to traders who do not meet the Securities and Exchange Board of India‘s rule of maintaining at least 50% of collateral in cash or its equivalents on an intraday basis. Currently, Zerodha bridges this gap using its own funds without charging clients.

From April 1, intra-day futures and options trades funded by the broker will attract double the usual brokerage of ₹20 per order. The higher fees will not apply to intraday trades in stock trading.

Zerodha did not respond to requests for comment.

Sebi rules require at least 50% of margin collateral, whether for intraday or overnight positions, to be held in cash or cash equivalents, with the remainder allowed in non-cash assets. Cash equivalents include cash, bank guarantees, fixed deposit receipts and approved securities, among others, as per NSE Clearing.

The pricing increase by Zerodha, which popularised the zero-brokerage model in India, comes as derivative volumes are under pressure from the proposed Securities Transaction Tax (STT) hike from April 1. In the 2026 Union Budget, the government proposed raising STT on futures to 0.05% from 0.02%, and on options premiums to 0.15% from 0.10%.
This move could pave the way for other firms to raise brokerage fees. “One of the industry’s largest brokerage platforms has initiated this move, which could bring more discipline to pricing and may create a ripple effect across the wider industry,” said Pranay Aggarwal, director and chief executive of Stoxkart.

While many brokers do not charge for intraday shortfalls in cash collateral, interest of 9% to 18% per annum is typically levied on overnight or carry-forward positions. With revenues getting squeezed, brokerages are looking to soften the blow through other avenues.

“The amount of collateral that people have kept with us, on which they take margin to trade, has gone up like bonkers,” Zerodha’s chief executive officer Nithin Kamath, wrote on the firm’s website. “We are at a point where we might have to borrow funds in the near future to provide collateral for you all. Borrowed funds come at a cost.”

Kamath said the firm could have charged a percentage fee for accounts going into debit, as some brokers do.

“But we realised the impact due to that would be a lot more than charging a higher brokerage for trades executed only when your account is in debit, or when you don’t have at least 50% in cash while trading on collateral,” he said.

BlackRock CEO Larry Fink said in his annual chairman’s letter that Trump Accounts could provide a “very significant” boost in jump-starting savings and investment by younger Americans.

Fink noted that Americans are struggling to save money for emergencies in addition to funding retirement plans, and explained that early wealth-building accounts for newborn children can help them start life on a solid financial footing.

He said that experiments in Canada, the U.K. and Singapore have shown evidence that these accounts are a good investment, making it more likely account holders obtain advanced degrees, start a business and own a home. 

“Now the United States is adopting a form of this policy with Trump Accounts,” Fink wrote, saying that Trump Accounts created by last year’s One Big Beautiful Bill Act can be funded in a variety of ways.

HERE’S HOW MUCH TRUMP ACCOUNT BALANCES COULD GROW OVER TIME

“There is some nuance in how these accounts are funded. In some cases, it’s a pilot program funded by the government, which would need to be renewed,” Fink wrote. 

“Funding can also come through personal contributions, or through certain employer match programs, such as the one we have at BlackRock for our employees. In other cases, the money comes from private funders.”

“We’ll see how these accounts evolve, but if they are structured thoughtfully, and paired with existing investment vehicles for education and retirement (like 529 and 401(k) plans), this could be a very significant step toward more young Americans growing with their country,” Fink added.

IRS UNVEILS PROPOSED REGULATIONS FOR NEW TRUMP ACCOUNTS SAVINGS PROGRAM

Several companies, including BlackRock, Bank of America and JPMorgan Chase, among others, have announced plans to contribute to Trump Accounts for their U.S. employees’ children. 

Those companies will match the federal government’s $1,000 contribution, while other firms have planned different contribution levels.

Ticker	Security	Last	Change	Change %
BLK	BLACKROCK INC.	976.06	+1.48	+0.15%

Wealthy Americans have also made philanthropic contributions to the government to provide seed money for the accounts. 

For example, Michael and Susan Dell have committed $6.25 billion to seed 25 million accounts with $250 each, with the contributions expected to reach the accounts of most children aged 10 and under who were born prior to the qualifying date for the federal contribution.

TRUMP UNVEILS RETIREMENT PLAN WITH UP TO $1K FEDERAL MATCH

Trump Accounts will be invested in a broad index fund of U.S. stocks, much like the low-cost funds available in many retirement plans, and will be in the child’s name with their parents or guardian serving as the custodian of the account until they turn 18. 

At that time, the funds can be used at the young adult’s discretion for things like educational expenses, starting a business, a down payment on a home, saving for retirement or a rainy day fund.

Parents may contribute up to $5,000 per year to the accounts, while a parent’s employer can contribute up to $2,500 per year without impacting the employee’s taxable income.

Children born between Jan. 1, 2025, and Dec. 31, 2028, will receive $1,000 in seed funding from the federal government in addition to any other contributions. Trump Accounts are also available to children born before Jan. 1, 2025, who are under the age of 18 – although they won’t receive the $1,000 federal government.

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The accounts are expected to officially launch on July 4, 2026. Parents may enroll their child in the program by making an election when they file their taxes on the new IRS Form 4547.

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Thai authorities urge nationals in the Middle East to evacuate due to rising tensions. Citizens should stay alert, register with embassies, and prepare for possible evacuation amid ongoing instability.

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Key Points

• Thai authorities are advising nationals in the Middle East to evacuate due to rising tensions, with officials closely monitoring the situation. Citizens are urged to stay alert, maintain contact with Thai embassies, and prepare for possible evacuation.
• Despite a temporary pause in military strikes between the U.S. and Iran, conditions remain unstable. Thai nationals should register their locations with embassies and be ready to leave on short notice.
• The ministry confirms ongoing assistance for citizens, including the repatriation of Thai workers’ remains by March 26. Some workers have safely arrived in Turkey, while concerns persist about maritime safety in the region. Authorities urge adherence to safety measures and official guidance as conditions evolve.

Thai authorities are urging nationals in the Middle East to evacuate amid volatile tensions in the region, with Panidone Pachimsawat, acting director-general of the Department of Information and deputy spokesperson of the Ministry of Foreign Affairs, confirming ongoing monitoring of the situation. Citizens in affected areas have been advised to stay alert, remain in close contact with Thai embassies, and prepare for possible evacuation.

Although recent discussions between the United States and Iran have led to a temporary five-day pause in military strikes, officials warn that conditions remain unstable. Thai nationals are encouraged to monitor developments, register their locations with their embassies, and be ready to depart on short notice if necessary.

The ministry also reported progress in assisting Thai citizens in the region. The remains of Thai workers who lost their lives in Israel are scheduled to be returned to Thailand by March 26. Meanwhile, four Thai workers have arrived safely in Turkey, with another group of eight individuals, including seven students and one worker, expected to travel from Iran to Turkey.

Authorities have also raised concerns about maritime safety for commercial shipping in the region, as risks persist. The Thai government is coordinating support for affected citizens and continues to advise strict adherence to safety measures and official guidance as the situation develops.

Source : Thais Urged to Evacuate From the Middle East Amid Tensions

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