{"id":7725,"date":"2026-03-23T15:21:38","date_gmt":"2026-03-23T14:21:38","guid":{"rendered":"https:\/\/www.italpreziosi.it\/news\/is-the-safe-haven-asset-in-freefall-has-gold-lost-its-appeal\/"},"modified":"2026-03-25T11:31:42","modified_gmt":"2026-03-25T10:31:42","slug":"is-the-safe-haven-asset-in-freefall-has-gold-lost-its-appeal","status":"publish","type":"post","link":"https:\/\/www.italpreziosi.it\/en\/news\/gold-whats-happening-in-the-market-and-how-is-the-conflict-affecting-the-price\/","title":{"rendered":"Gold: what\u2019s happening in the market and how is the conflict affecting the price?"},"content":{"rendered":"

It has been a tough morning for the ultimate safe-haven asset, which kicked off the week with a dramatic plunge<\/strong>. The loss is in double figures: down 14.9%<\/strong> over seven days, dipping today to just above the $4,152 per ounce mark<\/strong> (around \u20ac115.47 per gram). The yellow metal\u2019s slump has now been ongoing for a full four weeks. <\/span><\/p>\n

Nei prossimi paragrafi cercheremo di individuare le cause dietro l\u2019incertezza dell\u2019oro, che dopo le recenti performance stellari sembra tornare \u201ccoi piedi per terra\u201d.<\/span><\/p>\n

 <\/p>\n

The conflict in the Middle East: the risk of inflation looms large<\/h2>\n

The main reason<\/strong> behind the decline in the value of safe-haven assets lies in the Middle East<\/strong>, which has been ravaged by the bombings of the recent conflict<\/strong>. Despite the positive signals announced by Trump regarding US-Iran talks, fears of rising inflation are driving major economies to seek liquidity<\/strong> \u2013 energy, rather than precious metals. Demand for safe-haven assets is slowing, with investors attempting to offset other losses<\/strong> within their portfolios. This is why gold is becoming the ideal hedge<\/strong> against capital losses accumulated on shares and bonds. <\/span><\/p>\n

Even silver has not been spared from the energy crisis panic: in the space of a week, the white metal<\/strong> has fallen<\/strong> by around 19.8%<\/strong>. The charts below show the performance of gold and silver over the last few days, from 13 and 17 March respectively: <\/span><\/p>\n

\"Line<\/a><\/p>\n

 <\/p>\n

\"Hourly<\/a><\/p>\n

 <\/p>\n

Interest rates unchanged by the Fed and the ECB<\/h2>\n

The central banks of the United States and Europe<\/strong> are also holding gold back by keeping interest rates unchanged<\/strong>. It is now almost a foregone conclusion that high energy prices<\/strong> will eventually drive up inflation<\/strong>: a prospect that is enough to dash any hopes of an interest rate cut by the major central banks. <\/span><\/p>\n

In a scenario of rapidly rising living costs, central banks<\/strong> tend not to cut interest rates, thereby encouraging the public to save and cut back on spending. Assets that do not generate additional annual income<\/strong> \u2013 including gold \u2013 therefore tend to lose their appeal<\/strong> to investors. <\/span><\/p>\n

 <\/p>\n

The mid-morning rally following the truce announced by Trump<\/h2>\n

After a disastrous start, a turnaround. Around midday, the US President announced the prospect of a truce with Tehran<\/strong>: a five-day halt to all military attacks on Iranian power stations and energy infrastructure. <\/span><\/p>\n

Gold and silver<\/strong> staged a modest recovery,<\/strong> posting gains of 3.44%<\/strong> and 6.71%<\/strong> respectively. <\/span><\/p>\n

This morning, gold had wiped out all the gains it had made since the start of the year (-8.4%); the same was true of silver, which had lost 10.7% in a single day. <\/span><\/p>\n

 <\/p>\n

Has gold lost its lustre?<\/h2>\n

For the ultimate safe-haven asset, 2025<\/strong> was a record-breaking year. It gained nearly 70%<\/strong> over twelve months, paving the way for a much-needed period of consolidation. Analysts had predicted a trading range<\/strong> of between $4,500 and $5,500<\/strong> for 2026.<\/strong> After all, in a market constantly shaken by conflicts and macroeconomic crises, the least investors can expect is widespread volatility. <\/span><\/p>\n

If central banks<\/strong>\u2019 fears prove to be well-founded and inflation starts to rise again, real interest<\/strong> rates would likely be pushed down<\/strong>, thereby supporting the price of precious metals. Periods of consolidation \u2013 such as the one we are currently experiencing \u2013 do not therefore represent a reversal of the trend<\/strong>, nor do they undermine the credibility of investing in physical gold. On the contrary, a natural period of consolidation<\/strong> could strengthen <\/strong>the role of gold as a safe-haven asset in the medium to long term<\/strong>. <\/span><\/p>\n

 <\/p>\n

Sources:<\/b><\/p>\n

Prezzo oro oggi Tg24 Sky<\/span><\/a><\/p>\n

Repubblica_perch\u00e8 il prezzo dell’oro sta crollando <\/span><\/a><\/p>\n

Ansa_rimbalzano oro e argento dopo la tregua annunciata da Trump<\/span><\/a><\/p>\n

Rai News_Ultimatum di Trump Hormuz<\/span><\/a><\/p>\n

Milano Finanza<\/span><\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

It has been a tough morning for the ultimate safe-haven asset, which kicked off the week with a dramatic plunge. The loss is in double figures: down 14.9% over seven days, dipping today to just above the $4,152 per ounce mark (around \u20ac115.47 per gram). The yellow metal\u2019s slump has now been ongoing for a […]<\/p>\n","protected":false},"author":5,"featured_media":7721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-7725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/posts\/7725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/comments?post=7725"}],"version-history":[{"count":10,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/posts\/7725\/revisions"}],"predecessor-version":[{"id":7755,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/posts\/7725\/revisions\/7755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/media\/7721"}],"wp:attachment":[{"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/media?parent=7725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/categories?post=7725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.italpreziosi.it\/en\/wp-json\/wp\/v2\/tags?post=7725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}