Amillex Daily Market Brief | Renewed Conflict Sparks Risk Aversion as Gold and Oil Surge in Tandem

March 2, 2026 — Global financial markets were hit by a sharp shock during the Asian session, as a sudden escalation in Middle East tensions fully ignited risk-off sentiment. Over the weekend, reports of large-scale U.S.–Israeli strikes on Iran — including the deaths of several senior officials, among them Supreme Leader Ayatollah Khamenei — sent shockwaves through markets.

Spot gold opened with a sharp upside gap and surged as much as 1.5% intraday to USD 5,373.49/oz, marking a near one-month high. The rapid spillover of geopolitical risk, combined with a steady recovery in physical gold demand, pushed bullish sentiment close to overdrive.

Performance des actifs et aperçu fondamental

1. Marché des actions américaines

Performance de l'indice

Indice industriel Dow Jones (DJI) : 48,977.92, down 1.05%
The index fell below the psychological 49,000 level, reflecting capital rotation away from cyclical sectors amid extreme geopolitical risk.
S&P 500 (SP500) : 6,824.50, down 0.60%
Overall market risk appetite weakened.
Nasdaq 100 (NQ1) : 24,777.25, down 0.91%
Growth and technology stocks remain highly sensitive to real-rate expectations and geopolitical uncertainty.

Focus sur les actions

Tesla (TSLA) : USD 402.51, down 1.49%
Shares remain under pressure near the key psychological USD 400 level.

2. Marché des changes

Indice du dollar américain (DXY) : 97.933, up 0.29%
Safe-haven flows boosted the dollar. Markets are repricing its defensive appeal, while potential energy-driven inflation also supports expectations that the Fed will maintain a restrictive policy stance.
EUR/USD : 1.18159, up 0,16%
The euro shows resilience at current levels, as markets weigh rising European energy costs against potential central bank responses.
USD/JPY : 156.004, down 0,06%
Reflects an intense tug-of-war between yield differentials and safe-haven demand.

3. Métaux précieux et matières premières

Métaux précieux

Or au comptant (XAUUSD) : USD 5,317.31/oz, up 0,74%
Geopolitical risk premiums fully offset the impact of a stronger U.S. dollar.
Argent au comptant (XAGUSD) : USD 92.992/oz, down 0.86%
Silver underperformed, highlighting its stronger industrial-metal characteristics and concerns over slowing global growth.

matières premières

Pétrole brut (XTIUSD) : USD 71.19/barrel, up 5.62%
Supply disruption risks became the dominant pricing factor, driving an extreme single-day rally.

4. Digital Assets and Macro Developments

Bitcoin (BTCUSD) : USD 66,443, up 1.02%
Found buying support near USD 65,000, showing signs of moving in sync with gold as a digital safe-haven asset.
Ethereum (ETHUSD) : USD 1,964.5, up 1.30%
Digital assets saw a modest rebound amid expectations of fiat liquidity volatility, though their risk-asset nature continues to cap upside momentum.

5. Today’ focus