Published: 12 March 2026,06:39
Daily Market Analysis New
*Iran’s Islamic Revolutionary Guard Corps intensified attacks on commercial vessels and enforced a blockade of the Strait of Hormuz, bringing tanker traffic close to a standstill.
*Surging oil prices lifted inflation expectations, strengthening the U.S. Dollar Index and Treasury yields, which temporarily weighed on non-yielding assets like Gold and Silver.
*Escalating geopolitical risks and prolonged shipping disruptions are restoring demand for gold and silver as investors seek protection amid persistent uncertainty.
Market Summary:
The Middle East conflict entered a dangerous new phase on March 11, 2026, as Iran’s Islamic Revolutionary Guard Corps (IRGC) unleashed its “most intense and heaviest operation” to date across the Gulf. Iranian forces struck multiple commercial vessels, including the Thai cargo ship Mayuree Naree north of Oman, which was set ablaze by a projectile. Tehran continues to enforce its blockade of the Strait of Hormuz, with reports confirming Iran has laid mines in the waterway. At least 17 non-Iranian merchant ships have been attacked since early March, bringing tanker traffic through the chokepoint—responsible for one-fifth of global oil and LNG flows—to a virtual standstill.
From the perspective of safe-haven metals, gold and silver face competing forces. Non-yielding assets initially lost momentum in recent sessions as surging oil prices (driven by the Hormuz disruptions) stoked inflation fears, strengthened the US dollar, and pushed Treasury yields higher, diminishing expectations for Federal Reserve rate cuts. Spot gold traded as low as $5,155/oz and silver fell over 5% intraday earlier this week, reflecting the classic headwind from rising real rates.
Yet intensified regional tension is rapidly restoring demand. Safe-haven flows have provided a clear floor with both metals remaining trading at the elevated levels, with analysts noting that geopolitical risk is once again outweighing macro pressures. Central-bank buying and investor flight-to-quality are reinforcing this support.
The non-yielding assets are unlikely to continue losing attraction. Prolonged disruption in the Strait of Hormuz and the risk of further escalation are set to stoke fresh demand for both gold and silver, positioning them as preferred hedges amid persistent uncertainty.
Technical Analysis
Silver staged a modest technical rebound from recent lows near the $80.00 mark, but the recovery has lost momentum as prices slip back into the prior range-bound structure. This price action reflects waning bullish conviction and tilts the near-term bias bearish, with the metal currently consolidating below key resistance levels.
Momentum indicators present a mixed picture that aligns with the range-bound interpretation. The Relative Strength Index hovers near the 50-midpoint, reflecting equilibrium between buyers and sellers without clear directional conviction . The Moving Average Convergence Divergence shows the line remaining below its signal and beneath the zero line, though the narrowing negative histogram suggests bearish momentum persists but is losing intensity. This configuration points to a market in balance, awaiting a catalyst for the next decisive move.
Resistance Levels: 90.88, 95.21
Support Levels: 81.44, 76.60
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