Invest
Gold at the end of the geopolitical tension tunnel
The firing of missiles against US airbases has seen investors flocking to the safe haven of precious metal amid fears of further conflict.
Gold at the end of the geopolitical tension tunnel
The firing of missiles against US airbases has seen investors flocking to the safe haven of precious metal amid fears of further conflict.
In a blog post, the Perth Mint has noted the proximate cause of the latest rally to the price of gold as being “the sharp escalation in tensions between the United States and Iran, with the drone strike that killed Iranian military general Qassem Soleimaini”.
This in turn sparked a wave of safe haven buying, pushing the price of gold beyond $2,300 per troy ounce as Iran retaliated with a missile attack of its own against US troops.
While US President Donald Trump’s overnight decision not to escalate things further did cool things off, the price at 11AM, 9 January, is still sitting up at $2,266 per troy ounce.
The precious metals rally continues the strong upside move that the Perth Mint dates back to 2018’s fourth quarter, when a sharp decline in equity markets reignited demand for gold and other safe haven assets.
Gold’s value has skyrocketed more than 30 per cent in Australian dollar terms since.
The Perth Mint said it has seen investor appetite for precious metals grow firsthand, with the number of clients opening direct depository accounts more than doubling last year alone.
The jump in the price of gold has coincided with a jump in the price of a number of other key markets.
Bitcoin closed on 8 January at US$8,096.75 after jumping to a high of US$8,391.52 earlier in the day.
Crude oil peaked on 6 January at $63.27 before settling at $62.70 on 7 January.
RELATED ARTICLES
About the author
About the author
Commodity
Gold's March tumble: Unpacking the dynamics behind the decline
In a month marked by unexpected volatility, gold experienced its steepest decline since June 2013, with prices falling by 12% to US$4,608 per ounce. This dramatic downturn in March was not driven by ...Read more
Commodity
Gold’s role in Australian portfolios amid economic uncertainties
As Australia grapples with resurgent inflation and the Reserve Bank of Australia's (RBA) decision to resume interest rate hikes, the spotlight is once again on gold's strategic role in investment ...Read more
Commodity
World Gold Council unveils initiative to transform digital gold landscape
In a groundbreaking move poised to reshape the digital gold market, the World Gold Council (WGC) has announced a new initiative aimed at building a shared infrastructure to facilitate the development ...Read more
Commodity
Gold shines as dollar weakens amid geopolitical tensions
Gold prices surged by 5% in February, reaching an impressive US$5,222 per ounce, driven by a combination of a weakening US dollar, softer US Treasury yields, and increased dip buying. This marks a ...Read more
Commodity
Gold’s rally surpasses US$5,000 amid bond volatility concerns
In an extraordinary start to the year, gold prices have surged past the US$5,000 mark, marking a significant milestone in the precious metal's market. January witnessed a remarkable 14% rally, closing ...Read more
Commodity
Gold ETF inflows soar to record highs amid market volatility
In a remarkable start to the new year, global gold exchange-traded funds (ETFs) have witnessed unprecedented inflows, pushing their total assets under management (AUM) and collective holdings to ...Read more
Commodity
Gold's remarkable surge in 2025 sets the stage for a volatile 2026
Gold has experienced a stellar year in 2025, achieving over 50 all-time highs and delivering a return exceeding 60%, making it one of the top-performing assets. This impressive performance has been ...Read more
Commodity
Scenic Eclipse launches fifth Antarctica season with new submersible, private jet transfers and helicopter experiences
Scenic Discovery Yachts has commenced its fifth Antarctica season, introducing new ultra-luxury experiences including private jet transfers, advanced helicopter excursions and a new Scenic Neptune ...Read more
Commodity
Gold's March tumble: Unpacking the dynamics behind the decline
In a month marked by unexpected volatility, gold experienced its steepest decline since June 2013, with prices falling by 12% to US$4,608 per ounce. This dramatic downturn in March was not driven by ...Read more
Commodity
Gold’s role in Australian portfolios amid economic uncertainties
As Australia grapples with resurgent inflation and the Reserve Bank of Australia's (RBA) decision to resume interest rate hikes, the spotlight is once again on gold's strategic role in investment ...Read more
Commodity
World Gold Council unveils initiative to transform digital gold landscape
In a groundbreaking move poised to reshape the digital gold market, the World Gold Council (WGC) has announced a new initiative aimed at building a shared infrastructure to facilitate the development ...Read more
Commodity
Gold shines as dollar weakens amid geopolitical tensions
Gold prices surged by 5% in February, reaching an impressive US$5,222 per ounce, driven by a combination of a weakening US dollar, softer US Treasury yields, and increased dip buying. This marks a ...Read more
Commodity
Gold’s rally surpasses US$5,000 amid bond volatility concerns
In an extraordinary start to the year, gold prices have surged past the US$5,000 mark, marking a significant milestone in the precious metal's market. January witnessed a remarkable 14% rally, closing ...Read more
Commodity
Gold ETF inflows soar to record highs amid market volatility
In a remarkable start to the new year, global gold exchange-traded funds (ETFs) have witnessed unprecedented inflows, pushing their total assets under management (AUM) and collective holdings to ...Read more
Commodity
Gold's remarkable surge in 2025 sets the stage for a volatile 2026
Gold has experienced a stellar year in 2025, achieving over 50 all-time highs and delivering a return exceeding 60%, making it one of the top-performing assets. This impressive performance has been ...Read more
Commodity
Scenic Eclipse launches fifth Antarctica season with new submersible, private jet transfers and helicopter experiences
Scenic Discovery Yachts has commenced its fifth Antarctica season, introducing new ultra-luxury experiences including private jet transfers, advanced helicopter excursions and a new Scenic Neptune ...Read more
