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Gold and Silver Slide as War Triggers Dollar Rush and Snarls Bullion Trade

Investor cash calls during the oil shock dented bullion’s refuge status.

L'or et l'argent ont vu leurs prix chuter nettement avec le conflit au Moyen-Orient
En liquidant l'or et l'argent, ils ont pu récupérer des dollars, la devise dans laquelle s'échangent les hydrocarbures comme le pétrole
Image
La guerre bloque le transport en avion de l'or et de l'argent en provenance et à destination de Dubaï, plaque tournante de 20% des flux mondiaux du métal vers l'Inde

Overview

  • Gold trades near $4,580 an ounce and silver about $73 after a sharp retreat from record highs reached in late January.
  • Investors sold bullion to raise dollars as oil costs jumped following conflict in the Middle East, which pushed up cash needs and pressured metals.
  • Analysts warn that higher energy prices could stoke inflation and prompt rate hikes, making the dollar and government bonds more attractive than zero‑yield gold.
  • The World Gold Council says war has interrupted air shipments through Dubai, a hub for roughly 20% of global flows, which has disrupted the usual London‑to‑Asia route.
  • Coverage converges on the same forces: AFP cites cash raising and logistics strains, Le Figaro flags a blow to gold’s safe‑haven image, and Le Journal du Dimanche notes central‑bank buying near 40,000 tonnes and ETF flows that amplify swings.