Amillex Daily Market Commentary | Renewed Middle East Conflict Fuels Safe-Haven Demand, Gold and Oil Enter a New Phase of Synchronized Trends

On March 31, 2026, global financial markets experienced a day of intensified geopolitical risk escalation on Monday, driving safe-haven assets back into focus. The situation in the Middle East deteriorated beyond expectations after Yemen’s Houthi forces launched their first attack on Israel, triggering widespread market anxiety. The potential expansion of the Iran conflict has heightened investor concerns over Red Sea shipping routes and oil transportation across the Arabian Peninsula.

Although the Federal Reserve has clearly signaled a firm stance of no rate cuts this year, monetary policy appears increasingly constrained in the face of extreme geopolitical risks. Spot gold recorded its second consecutive daily gain on Monday, holding steady near USD 4,502 per ounce in early Asian trading. Amid the tug-of-war between fundamentals and risk sentiment, gold has notably decoupled from the traditional interest rate cycle, demonstrating strong resilience and bullish momentum.

Multi-Asset Market Performance & Fundamental Analysis

۱. بازار سهام ایالات متحده

عملکرد شاخص

میانگین صنعتی داو جونز (DJI): Closed at 45,216.14, up 49.50 points (+0.11%). Amid rising risk aversion, capital rotated into defensive blue-chip value stocks, supporting the index above the 45,000 level.
شاخص S&P 500 (SP500): Approximately 6,370, down 108.31 points (-1.67%). Markets reassessed the impact of geopolitical risks on supply chains, exposing the vulnerability of high-valuation assets under macro uncertainty.
نزدک ۱۰۰ (NQ1!): Closed at 23,007.25, down 132.50 points (-0.57%). Tech stocks faced pressure as markets repriced inflation expectations and rising real interest rate concerns.

نکات برجسته سهام

Tesla (TSLA) and Intel (INTC): Fell by 1.81% and 4.50%, respectively. Intel’s sharp decline reflects semiconductor sector concerns over potential trade barriers and rising energy costs.
Amazon (AMZN): Closed at USD 200.95, up 0.81% against the broader market trend, highlighting investor preference for mega-cap companies with strong cash flows.

۲. بازار ارز خارجی

شاخص دلار آمریکا (DXY): At 100.569, up 0.08%. The dollar’s safe-haven appeal strengthened amid geopolitical tensions, holding above the 100 level.
دلار آمریکا/ین ژاپن: At 159.869, up 0.08%, approaching the key 160 resistance level. Despite expectations of potential intervention by the Bank of Japan, yield differentials continue to support carry trades.
یورو/دلار آمریکا: At 1.14567, down 0.04%. Rising energy cost risks in Europe are capping the euro’s upside.

۳. فلزات گرانبها و کالاها

فلزات گرانبها

طلای اسپات (XAUUSD): At USD 4,527.63 per ounce, up USD 16.62 (+0.37%). Despite a stronger dollar, gold remains well-supported as a core safe-haven asset.
نقره اسپات (XAGUSD): At USD 70.006 per ounce, down 0.05%, consolidating around the USD 70 level.

کالاها

نفت خام WTI (XTIUSD): At USD 106.44 per barrel, up 1.11%. Rising energy prices are reinforcing inflation expectations and further limiting the scope for rate cuts.

۴. دارایی‌های رمزنگاری‌شده و تحولات کلان