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Explained: Why gold prices remain subdued despite West Asia tensions

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Explained: Why gold prices remain subdued despite West Asia tensions
Gold prices have remained unexpectedly weak even as geopolitical tensions in West Asia intensify—a stark contrast to gold’s traditional reputation as a safe-haven asset during global crises. Since 01 March, international gold prices have dropped nearly 13%, while domestic prices in India have fallen about 10%. Silver has corrected even more sharply, with global prices down 25% and domestic prices lower by 21%. This unusual divergence between rising geopolitical risk and falling precious metal prices highlights deeper macroeconomic forces at play. It also raises the question: Is this merely a short-term consolidation, or does it signal a structural shift in investor behaviour?

Strong U.S. Dollar Limits Safe-Haven Gains

One of the biggest factors suppressing gold is the renewed strength of the U.S. dollar. During periods of geopolitical stress, global investors flock not only to gold but also to the dollar, which offers superior liquidity and global acceptance.

The U.S. Dollar Index (DXY) has risen sharply from around 97 in mid-February to 100.15 by mid-March, reflecting strong safe-haven flows into the greenback. Since gold is dollar-priced, a stronger USD makes bullion costlier for other currency holders, dampening investment and physical demand. As a result, the usual geopolitical boost for gold has been overshadowed by the dollar’s resurgence.

Rising U.S. Treasury Yields and Higher Oil Prices Pressure Bullion

Gold has also faced pressure from rising U.S. Treasury yields. Higher yields increase the opportunity cost of holding non-yielding assets like gold, making government bonds more attractive in comparison. At the same time, surging oil prices amid the Iran–Middle East conflict have intensified inflation worries. Investors now expect central banks, especially the U.S. Federal Reserve, to keep interest rates elevated for longer. This environment strengthens yield-bearing assets and weakens gold’s appeal, even during geopolitical upheavals.

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Overvaluation and Heavy Profit-Taking

Gold had already staged a robust rally before the West Asia conflict erupted. After such a steep climb, the metal entered what many considered overvalued territory. Investors were reluctant to increase their exposure at elevated levels. When volatility spiked after the conflict intensified, traders seized the opportunity to book profits, leading to liquidation pressure instead of the typical safe-haven inflows. Markets tend to react this way after extended rallies, where investors prefer locking in gains rather than adding fresh positions. This wave of profit-taking diluted the potential upside from geopolitical tensions.

Liquidity-Driven Selling and Geopolitical Risk Already Priced In

During periods of sharp market stress, investors often prioritise liquidity above all else. Gold, being one of the most liquid assets globally, frequently becomes a source of cash to cover losses, meet margin calls, or rebalance portfolios. This liquidity-driven selling has been a key factor in the recent correction, overpowering safe-haven demand. Additionally, much of the geopolitical premium was already factored in gold prices at the start of 2026. Earlier conflicts, global recession fears, and currency volatility had kept gold elevated. With markets already positioned for ongoing instability and upcoming U.S. political developments, fresh upside triggers were limited.

Shift in Interest Rate Expectations and Overbought Technicals

Expectations around future U.S. interest rates have also influenced gold’s trajectory. Speculation surrounding potential changes in Federal Reserve leadership and delays in rate cuts have kept real yields high, reducing gold’s relative attractiveness.

On the technical front, both gold and silver were significantly overbought, which was reflected in elevated RSI readings. This indicated stretched speculative positioning and increased vulnerability to corrections. Traders took advantage of these technical signals to unwind bullish positions, adding to the downside pressure.

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Why Indian Gold Prices Stayed Steady Despite a Weak Rupee

Despite the Indian rupee weakening to record lows, an event that typically pushes domestic gold prices higher by increasing import costs, gold prices in India have remained relatively steady. This unusual trend is largely due to the sharp decline in international gold prices, which has offset the higher landed cost caused by currency depreciation. At the same time, domestic demand has been subdued, as months of elevated prices have dampened jewellery buying and kept household budgets under pressure. Importers have also adopted a cautious stance, avoiding aggressive purchases amid volatile global conditions. These factors have prevented domestic prices from rising in proportion to the rupee’s weakness.

Outlook: Choppy Near Term, Constructive Long Term

Looking ahead, bullion is expected to remain choppy in the near term, with strong U.S. dollar conditions, elevated real yields, and uncertainty surrounding the Federal Reserve’s policy outlook likely to dominate price movement. Periodic bouts of liquidity-driven selling may add to short-term volatility, keeping gold and silver rangebound. However, the long-term outlook for precious metals remains constructive.

Persistent geopolitical fragmentation, ongoing central bank diversification away from major reserve currencies, underlying inflation risks, and tightening supply, particularly in silver, continue to support a favourable multi-year outlook for precious metals. As global growth moderates and monetary authorities eventually shift toward easing cycles, both gold and silver are poised to strengthen their roles as strategic hedges. With structural demand remaining firm and supply constraints becoming more pronounced, the long-term upside potential for both metals appears increasingly compelling.

(The author of the article is Hareesh V, Head of Commodity Research, Geojit Investments Limited)

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AGNC Investment: Stable Spreads, Mispriced Volatility Create Income Opportunity

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AGNC Investment: Stable Spreads, Mispriced Volatility Create Income Opportunity

AGNC Investment: Stable Spreads, Mispriced Volatility Create Income Opportunity

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Why I Just Became Even More Bullish On The Canton Network (Cryptocurrency:CC-USD)

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Market Brief: What’s Driving Near Protocol’s Surge? (NEAR-USD)

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My investing approach is very simple. I look at investments like tools with each one having different characteristics, capabilities, and risks. Nassim Taleb said something along the lines of “Don’t tell me what you think. Tell me what is in your portfolio.” In that spirit, I love the methodology prescribed in The Simple Path To Wealth so I own low-cost index funds (think $VTI $VOO $QQQ) and U.S. T-Bills/Treasuries. But I really enjoy individual stocks and cryptocurrencies, so I hold just a small percentage of individual stocks and cryptocurrencies. I select individual stocks to either fuel long term growth above the rate at which the index reasonably offers or to provide a higher level of income. My current individual stock holdings are $AMZN $EPD $TROW $THAR and BMNR. My articles generally focus on investments that I personally own or strategies that I employ. If I’m writing about something I don’t personally own, I will state that upfront. By trade, I’m a real estate broker. As a broker, my goal is to help buyers and sellers of real estate reduce their transaction costs and my services are available nationwide. I hold an MBA from Maryland’s Smith School of Business and write for Seeking Alpha because I find real enjoyment in it. It forces me to really think through my decision making and opens me up to feedback from the community. So, thank you for reading and thank you for your input!Disclaimer: Tom reminds investors to always do their own due diligence on any investment, and to consult their own financial adviser or representative. Any material provided is intended as general information only, and should not be considered or relied upon as a formal investment recommendation.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of CC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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The Restructuring Of Global Oil| Investor’s Business Daily

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The Restructuring Of Global Oil| Investor's Business Daily

This year, March came in like a lion wrapped in a flak jacket. As the U.S. war in the Middle East enters its fourth week, it is hard to imagine the month leaving like a lamb. The global oil industry has rapidly restructured its trade routes as China, India Japan and South Korea pay up to replace oil lost due…

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Fed Chair Powell lauds Volcker’s ’willingness to resist’

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Fed Chair Powell lauds Volcker’s ’willingness to resist’


Fed Chair Powell lauds Volcker’s ’willingness to resist’

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Former FBI chief Robert Mueller dies at 81, MS Now reports

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Former FBI chief Robert Mueller dies at 81, MS Now reports

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Former FBI chief Mueller has died, according to MSNOW report

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Former FBI chief Mueller has died, according to MSNOW report

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Is Cairo International Airport Open? Airport Fully Operational with Hundreds of Flights

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Song Ping

CAIRO — Cairo International Airport (CAI), Egypt’s busiest aviation hub and a key gateway between Africa, Europe, the Middle East and Asia, remains fully open and handling regular commercial passenger traffic on March 21, 2026, despite widespread disruptions across the broader Middle East due to the ongoing U.S.-Israeli conflict with Iran.

Cairo International Airport
Cairo International Airport

Live flight tracking data from the official Cairo Airport website (cairo-airport.com), FlightStats, Flightradar24 and Trip.com confirm active arrivals and departures throughout the day. As of mid-morning local time (UTC+2), the arrivals board lists numerous flights marked as “Landed,” including services from Athens (A3934), Sharm El Sheikh (SM07), Abu Dhabi (MS1915) and others into Terminals 1, 2 and 3. Departures show scheduled operations to destinations such as Luxor, Sharm el Sheikh, Jeddah, Riyadh and international points, with low reported disruption rates — around 2% impact noted on some trackers like Wego.

The airport’s flight information page displays hundreds of movements, with EgyptAir, Air Cairo and other carriers maintaining core domestic routes to Hurghada, Aswan and Luxor alongside international services. EgyptAir’s flight status tool and third-party platforms report on-time performance in the 74% range for recent days, with minimal cancellations tied to the regional crisis. No blanket suspension or closure notices appear on official channels, and the airport continues to promote services like Ahlan passenger assistance and terminal updates.

Egypt’s airspace has stayed open throughout the conflict, positioning Cairo as a vital rerouting and diversion hub. As neighboring countries — including Iran, Iraq, Kuwait, Bahrain, Qatar and parts of the Gulf — imposed full or severe airspace restrictions following missile exchanges and strikes starting late February 2026, airlines diverted long-haul flights over Egyptian territory. Cairo absorbed overflow from closed hubs like Dubai, Doha and Abu Dhabi, with reports of increased traffic from Europe-to-Asia routings avoiding higher-risk corridors.

Early in the escalation, EgyptAir temporarily suspended flights to 13 regional cities including Dubai, Doha, Beirut, Amman and Baghdad due to direct threats and airspace issues in those areas. However, by mid-March, many carriers gradually resumed or maintained services via safer paths, and Cairo’s operations normalized for unaffected routes. Domestic tourism corridors along the Nile (Cairo-Luxor-Aswan) and Red Sea resorts (Hurghada, Sharm el Sheikh) face no major interruptions.

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Authorities placed airports on high alert from the conflict’s outset, coordinating with military and civil aviation bodies to ensure safety amid potential spillover risks. No direct strikes or significant damage have been reported at CAI, unlike incidents affecting facilities in Kuwait and other Gulf states. Egyptian officials emphasized readiness to handle diversions, with contingency measures including enhanced security and radar monitoring.

The U.S. State Department and other governments issued broad advisories urging caution in the Middle East, including Egypt, but stopped short of prohibiting travel or mandating evacuations specific to Cairo. Tourism stakeholders highlighted Egypt’s relative stability, with record visitor numbers projected for 2026 despite regional volatility.

Travelers should verify individual flight status directly with airlines, as dynamic changes can occur due to overflight permissions, fuel considerations or last-minute adjustments. EgyptAir, the primary operator at CAI, urges passengers to check its app or website before heading to the airport. Third-party trackers like FlightAware and Skyscanner provide real-time updates, showing consistent activity even during peak hours.

Cairo’s resilience underscores its strategic role in global aviation networks. With Terminals 1, 2 and 3 operational and ongoing infrastructure projects (including Terminal 4 expansions) progressing, the airport serves as a stable anchor while much of the Gulf aviation sector grapples with prolonged closures.

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Passengers planning travel to or through Cairo today or in coming days should monitor official sources: the Cairo Airport website, airline notifications and live trackers. As the conflict remains fluid, situational awareness is key, but current data confirms normal commercial operations at one of Africa’s largest hubs.

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NetApp: Robust Profitability And AI Inference Tailwind Poised To Propel This Stock To New Heights (NASDAQ:NTAP)

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NetApp Building at Night in Santana Row San Jose

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My investing approach is finding companies with leadership economics associated with their business models and selling at a reasonable price. My articles will primarily discuss a company’s strategy to drive growth, competitive advantage that drives superior return on capital, capital structure, capital allocation, and management incentives. I consider myself a value investor looking for permanent ownership of strong companies with trustworthy management.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Labor Secures Landslide Victory as One Nation Surges Past Liberals

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Zayed International Airport Abu Dhabi International Airport

ADELAIDE, Australia — South Australian Premier Peter Malinauskas led the Labor Party to a decisive second-term victory in the March 21, 2026, state election, expanding its majority in the House of Assembly amid a dramatic collapse of the Liberal opposition and a stunning surge by One Nation that reshaped the political landscape.

Peter Malinauskas
Peter Malinauskas

With counting ongoing late Saturday night, Labor was projected to secure at least 30 seats in the 47-member lower house — up from 27 before the election — while the Liberals appeared headed for a historic low of just four seats. Independents were on track to claim at least four, with preferences still flowing in key marginals. The result delivered Malinauskas a commanding mandate after a campaign dominated by cost-of-living pressures, housing affordability and immigration debates.

Labor captured nearly 38% of the primary vote, comfortably ahead of One Nation’s 21% and the Liberals’ dismal 19%. On a two-party-preferred basis, Labor held a commanding lead of around 59-41 against both major opponents, marking what analysts described as the party’s strongest performance in state history. The swing toward Labor reached 4-5% in many seats, fueled by strong urban and suburban turnout.

The outcome devastated the Liberal Party, led by Ashton Hurn, who assumed the leadership only in December 2025. The Liberals suffered their worst result since federation in any state or federal contest, with early concessions from Hurn at Morphettville Racecourse acknowledging defeat. The party hemorrhaged support in traditional strongholds, particularly outer metropolitan and regional areas where voters shifted to One Nation’s anti-establishment message.

One Nation, under Pauline Hanson’s national banner and with local candidates including Cory Bernardi in some contests, achieved its best-ever primary vote in South Australia. The party’s 21% primary share — up dramatically from just 2.6% in 2022 when it ran in fewer seats — reflected deep discontent with the major parties. Support was particularly strong in regional electorates and outer suburbs, where voters cited economic hardship, immigration concerns and distrust of elites. Despite the surge, One Nation appeared unlikely to win any lower-house seats due to preference flows favoring Labor or independents, though its vote split the conservative bloc and indirectly aided Labor’s gains.

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Malinauskas declared victory shortly after 10 p.m. ACDT, thanking voters for endorsing his government’s record on jobs, health and infrastructure. “South Australians have spoken clearly: they want a government focused on delivery, not division,” he said in his victory speech. The premier highlighted achievements like hospital expansions, renewable energy projects and cost-of-living relief measures that resonated with working families.

The campaign featured unusual dynamics, with Malinauskas directly confronting Hanson’s anti-immigration rhetoric in debates and media appearances. Hanson responded sharply, accusing Labor of ignoring regional concerns. The exchange amplified One Nation’s visibility, contributing to its breakthrough performance.

Early voting turnout reached record levels, with more than 454,000 pre-poll ballots cast — a significant portion of the electorate — helping Labor build an insurmountable lead by election night. The South Australian Electoral Commission reported smooth polling day operations, with final results expected over coming days as postal and absentee votes are processed.

The election outcome carries national implications. Labor’s dominance in a traditionally competitive state bolsters federal prospects ahead of potential early polls, while the Liberals’ collapse raises questions about opposition strategy under federal leader Peter Dutton. One Nation’s rise signals growing populist sentiment, echoing trends in other states and potentially influencing Senate dynamics.

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Malinauskas, who became premier in 2022 after ending 16 years of Liberal rule, now commands a strengthened majority to pursue ambitious reforms in housing, energy transition and economic diversification. Critics within the party and independents will watch closely for delivery on promises amid fiscal constraints.

As counting continues, the 2026 South Australian election will be remembered as a landslide for Labor, a humiliation for the Liberals and a watershed moment for One Nation’s breakthrough into mainstream contention.

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Credo: The Market Got It Wrong (NASDAQ:CRDO)

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Data Center and Internet cables plugged in network server. Internet security network and safe data concept. Database storage. Cloud computing technology. 3d render

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Hi, I’m Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 3-5X outweighing the downside risk). By leveraging market inefficiencies and contrarian insights, we seek to maximize long-term compounding while protecting against capital impairment.Risk management is paramount—we seek a strong margin of safety to protect against capital impairment while maximizing long-term compounding. Our 2-3 year investment horizon allows us to ride out volatility, ensuring that patience, discipline, and intelligent capital allocation drive outsized returns over time.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in CRDO over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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