(March 16): Gold slipped below US$5,000 (RM19,653) an ounce on Monday, as the conflict in the Middle East entered a third week and investors weighed the inflationary impact of higher oil prices. Rising oil prices and inflationary concerns arising from the US-Israel war with Iran have put the metal under pressure, raising the prospect of fewer US Federal Reserve (Fed) interest rate cuts. Uncertainty over how long the war will last makes it difficult to assess the impact on markets and the wider economy. Meanwhile, US consumer sentiment declined to a three-month low as fears mounted in recent weeks about the impact on gasoline prices from the conflict. “Gold is more of a hedge against the wider impact of conflicts, rather than direct wartime threats,” UBS Global Wealth Management wrote in a note on Monday.

Source: The Edge Markets March 16, 2026 06:59 UTC