## 📈 Safe-Haven Demand Surges: Gold Hits New Highs Amid Middle East Conflict

Gold prices rose for a fifth consecutive session as the escalation of U.S. and Israeli air strikes against Iran intensified regional instability, driving investors toward safe-haven assets. • Gold Performance: Spot gold rose 1% to reach US$ 5,377.21 per ounce, while U.S. gold futures for April delivery climbed 1.5% to US$ 5,391.90. Prices are currently at their highest levels in over four weeks. • Regional Impact: Conflict escalation has led to the reported closure of the Strait of Hormuz, a critical maritime route. This move threatens approximately 20% of global oil flows, risking significant inflationary pressure on energy imports and global logistics. • Currency Dynamics: Despite a strong U.S. Dollar (hovering near a five-week high), gold continues to trade as a primary risk hedge due to heightened geopolitical uncertainty and threats of further military action. • Other Precious Metals: • Spot Silver: Up 1.4% to US$ 90.67 per ounce. • Platinum & Palladium: Gained 0.6% and 1.6% respectively. The ongoing disruption to shipping and potential spikes in energy costs remain key monitorables for Sri Lanka’s import bill and inflation outlook. _Note: Based on reported market data as of March 3, 2026._