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PETALING JAYA, March 26 — Global gold prices rebounded on Wednesday after dropping to their lowest level in four months, supported by declining oil prices and renewed investor demand for safe-haven assets amid continuing geopolitical uncertainty.
According to market data, gold was traded at around US$4,563.20 per ounce, equivalent to roughly RM580 per gram, recovering from a previous drop that saw prices fall by about 3.66 per cent to US$4,402 per ounce earlier in the week.
The rebound came after reports that the United States was working on proposals aimed at easing tensions in the Middle East conflict, which has significantly influenced global commodity markets in recent weeks. The developments contributed to a decline in oil prices, indirectly boosting demand for gold as investors reassessed their positions in safe-haven assets.
Gold prices had been under sustained pressure recently, with the precious metal experiencing a sharp decline amid rising global interest rate expectations and a stronger US dollar. Market analysts noted that higher interest rates tend to reduce the attractiveness of non-yielding assets such as gold, leading some investors to shift their capital into interest-bearing investments.
Despite the latest recovery, gold remains significantly below its peak recorded earlier this year. Market estimates indicate that the metal is still around 17 per cent lower than the record level reached at the end of January, reflecting persistent volatility in global financial markets.
Financial experts say movements in gold prices are increasingly influenced by global geopolitical developments, particularly tensions in the Middle East that have disrupted oil markets and heightened concerns over inflation and supply chains.
The ongoing conflict has also triggered fluctuations in energy prices, which in turn affect broader economic expectations. Rising energy costs typically increase inflationary pressures, prompting central banks to maintain higher interest rates — a factor that can weigh on gold demand in the short term.
However, during periods of geopolitical uncertainty, gold often regains its appeal as a safe-haven asset, attracting investors seeking to protect their wealth from market instability.
Analysts expect gold prices to remain volatile in the coming weeks as investors closely monitor developments in global politics, oil markets, and central bank policies that could influence the direction of commodity markets worldwide.
