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    Gold price hits 1‑month high: project economics lens for mine planners

    March 3, 2026|

    Reviewed by Joe Ashwell

    Gold price hits 1‑month high: project economics lens for mine planners

    First reported on MINING.com

    30 Second Briefing

    Gold surged as much as 2.9% to a one‑month high above $5,400/oz on Monday after US‑Israeli strikes on Iran killed supreme leader Ali Khamenei, triggering missile retaliation across the Middle East and a flight to safe‑haven assets. Silver dropped nearly 5% to below $90/oz, while partial airspace closures and suspended flights in Dubai temporarily curtailed bullion flows through the UAE, a key conduit between London and Asian buyers. TD Securities, Societe Generale, Bank of America and JPMorgan all reiterated bullish views, with 12‑month gold targets as high as $6,300/oz.

    Technical Brief

    • Partial UAE airspace closure and Dubai flight suspensions temporarily interrupted bullion shipments between London and Asia.
    • Traders are actively rerouting consignments originally scheduled to transit via Dubai to alternative logistics corridors.
    • A prolonged freeze on UAE flights is flagged as a material risk to Asian physical gold availability.
    • Gold has already set multiple record highs in 2026 and gained nearly 25% in two months.
    • TD Securities cites geopolitical instability, reduced risk appetite and inflation from surging energy costs as key price drivers.
    • TD notes recent long-gold speculators had been reducing exposure but may re‑enter on Middle East developments.
    • Societe Generale calls gold its “most preferred hedge”, particularly during oil shock scenarios.

    Our Take

    Bank of America also features in a late-2025 piece on record gold prices above $4,500/oz, suggesting its current 12‑month gold view is being framed against an environment where safe‑haven flows and central bank buying have already pushed prices to unprecedented levels.

    The divergence between gold’s near 3% intraday rise and silver’s drop towards sub‑$90/oz echoes other items in our database where silver lags during acute geopolitical shocks, which can complicate hedging strategies for polymetallic gold–silver producers.

    With gold up roughly a quarter in the first two months of the year in this article and later coverage documenting further spikes tied to geopolitical events, project developers in gold‑exposed regions such as the Middle East and North America are likely to face upward pressure on capex and royalties as host governments reassess fiscal terms against a much higher price deck.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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