6th March 2026
Gold has reacted the fastest and most dramatically. When US-Israel strikes hit Iran, gold shot past $5,464 per ounce, breaking all‑time records. Traders moved into gold immediately as a classic safe‑haven response to major Middle East conflict.
Analysts now consider $6,000 a realistic near‑term target if the conflict continues.
This behaviour is consistent with historical patterns: gold typically rises during war, averaging nearly 9% gains over 12 months in major conflicts.
Silver
Rising sharply alongside gold
Silver is also climbing, though with more volatility. When the Iran strikes occurred, silver jumped more than 8% in a single session.
Silver tends to follow gold during geopolitical crises because:
It is partly a safe‑haven metal
It is also an industrial metal, so supply chain fears push it up
Traders often buy silver when gold becomes expensive
Market analysts warn that silver is highly sensitive to Middle East tensions and could see further dramatic moves if the conflict escalates.
Copper
Affected, but for different reasons
Copper is not a safe‑haven metal, so it doesn't surge for the same reasons as gold and silver. Instead, copper reacts to:
Global supply chain disruption
Higher energy costs (copper production is energy‑intensive)
Market fears of economic slowdown
Shipping risks in the Gulf and Red Sea
While the search results above focus on gold and silver, the same geopolitical shock that is driving precious metals higher is also raising risk premiums across global commodities. Analysts note that the Iran conflict is already repricing commodity markets broadly, including industrial metals, because of disrupted shipping routes and higher energy costs.
Copper tends to rise when:
Oil prices surge (raising mining and transport costs)
Shipping lanes are threatened
Investors hedge against inflation
So although copper’s move is less dramatic than gold’s, it is still being pushed upward by the conflict.