Gold Drops 3% Amid U.S.-Iran Tensions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Source: Benzinga
- Gold Price Movement: Since the U.S. and Israel's actions against Iran on February 28, gold has fallen approximately 3%, while Brent crude has surged nearly 40% towards $100 a barrel, indicating a divergent market reaction to geopolitical risks.
- Liquidity Impact: Giovanni Staunovo from UBS noted that gold typically declines when financial markets show signs of stress, as investors tend to liquidate highly liquid assets quickly, which has pressured gold prices.
- Optimistic Future Outlook: Staunovo expects gold to soon regain its status as a safe-haven asset, projecting a price of $6,200 per ounce by June, approximately 20% above current levels, reflecting market confidence in future gold prices.
- Rising Inflation Expectations: The inflation expectations driven by high oil prices have prompted market participants to react to a more hawkish Fed, with Goldman Sachs raising its year-end PCE inflation forecast by 0.8 percentage points to 2.9%, providing historically favorable conditions for gold investment.
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Analyst Views on B
Wall Street analysts forecast B stock price to rise
17 Analyst Rating
15 Buy
2 Hold
0 Sell
Strong Buy
Current: 42.200
Low
44.31
Averages
58.14
High
71.00
Current: 42.200
Low
44.31
Averages
58.14
High
71.00
About B
Barrick Mining Corporation is a gold and copper producer, which is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are located in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, over 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located approximately 350 km north-east of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Economic Data: The US ADP employment change for March increased by 62,000, surpassing expectations of 40,000, while February retail sales rose by 0.6% month-over-month, indicating robust economic recovery that may influence Federal Reserve policy decisions.
- Interest Rate Outlook: Despite a mere 1% chance of a 25 basis point rate hike at the upcoming FOMC meeting, hawkish comments from St. Louis Fed President raised concerns about inflation and employment risks, potentially affecting investor sentiment and market dynamics.
- Divergent Stock Performances: Target Hospitality surged by over 37% after securing a multi-year contract worth over $550 million, while Nike fell by more than 13% due to revenue forecasts indicating a decline, highlighting varied market reactions to company-specific news.
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- Project Review Progress: Barrick Mining has decided to slow the development of the Reko Diq project due to escalating security risks, with a comprehensive review expected to continue until mid-2027, aimed at assessing the evolving security situation and capital requirements to mitigate potential losses.
- Capital Budget Adjustments: The estimated capital budget for Phase 1 of the Reko Diq project is projected between $5.6 billion and $6.0 billion, while Phase 2 is estimated between $3.3 billion and $3.6 billion, with significant increases anticipated due to heightened security issues, potentially impacting the project's overall feasibility.
- Community Investment Commitment: Despite the slowdown in development activities, Barrick remains committed to investing in local community and social programs, demonstrating its emphasis on social responsibility and aiming to maintain good relations with local governments and communities.
- Market Monitoring Strategy: Barrick will closely monitor the security landscape in consultation with its joint venture partners and provide further updates to the market following the conclusion of its review, ensuring project sustainability and investor confidence.
See More
Barrick Mining Delays Reko Diq Project Development
- Project Delay: Barrick Mining announced it will slow the development of its Reko Diq copper-gold project in Pakistan, extending the project review until mid-2027 due to escalating security risks in the region, which may lead to significant adjustments in overall project timelines and budgets.
- Capital Expenditure Reduction: The company stated it will reduce capital spending on the project while maintaining active management and continuing to invest in existing community and social programs to ensure good relations with local communities amid uncertainty.
- Budget Risk Warning: Barrick warned of potentially significant increases to the previously disclosed total estimated capital budget, with Phase 1 estimated at $5.6B-$6B and Phase 2 at $3.3B-$3.6B, excluding capitalization of financing costs.
- Timeline Adjustment: Although Reko Diq could become one of the world's largest copper-gold mines, industry experts caution that development will be expensive and complex, with first production now targeted for the end of 2028.
See More
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- Oil Price Surge: Crude oil prices soared over 13% as President Trump took a tougher stance on Iran, reaching a 3.5-week high, which not only heightened inflation fears but also pushed bond yields higher, with the 10-year T-note yield rising by 2 basis points to 4.34%.
- Unemployment Claims Drop: Weekly initial unemployment claims unexpectedly fell by 9,000 to 202,000, indicating a stronger labor market than the anticipated increase to 212,000, which could provide support for the stock market amid rising inflation concerns.
- Global Market Decline: Overseas stock markets are lower, with the Euro Stoxx 50 down 2.25%, China's Shanghai Composite down 0.74%, and Japan's Nikkei 225 sharply falling 2.38% from a two-week high, reflecting global economic uncertainty and investor caution.
- Airline Stocks Plummet: Airline stocks are sharply lower as crude oil prices surged over 10%, raising fuel costs; United Airlines and American Airlines Group both fell more than 6%, highlighting the direct impact of rising oil prices on airline profitability.
See More
Analyst Ratings and Investment Opportunities
- Investor Perspective: Although stock B ranks low among analysts, this does not necessarily indicate poor performance; rather, it may present contrarian investors with an opportunity, suggesting significant upside potential due to its unfavorable position.
- Industry Performance Comparison: In the precious metals sector, stock B is currently down about 1.3%, while peers Newmont Corp (NEM) and Wheaton Precious Metals Corp (WPM) are down approximately 0.1% and 0.9%, respectively, reflecting a relatively pessimistic sentiment towards B.
- Price History Analysis: A three-month price history chart comparing stock B's performance against NEM and WPM reveals differing market perceptions of precious metal stocks, which could influence investor decisions.
- Market Sentiment Impact: Analyst opinions can sway investor sentiment; despite stock B's current underperformance, market volatility and changes in analyst ratings may provide potential buying opportunities for investors.
See More
US Stocks Close Higher Amid Optimism Over Middle East Conflict Resolution
- Market Rally: The S&P 500 rose by 0.72%, the Dow Jones increased by 0.48%, and the Nasdaq 100 climbed by 1.18%, reflecting growing investor optimism regarding a potential resolution to the Middle East conflict, which has bolstered market confidence.
- Strong Economic Data: The US ADP employment change for March increased by 62,000, surpassing expectations of 40,000, while February retail sales rose by 0.6% month-over-month, indicating robust economic recovery that could influence Federal Reserve policy decisions.
- Interest Rate Expectations: Despite positive economic indicators, hawkish comments from St. Louis Fed President raised concerns about inflation and employment, leading to a mere 1% chance of a 25 basis point rate hike at the upcoming April FOMC meeting, reflecting cautious market sentiment.
- Divergent Stock Performances: Target Hospitality surged over 36% after securing a multi-year contract worth over $550 million, while Nike fell more than 15% due to revenue forecasts indicating a decline, highlighting the market's varied outlook on different companies' futures.
See More
US Stocks Rise on Optimism Over Middle East Conflict Resolution
- Market Rally: The S&P 500 Index rose by 0.97%, the Dow Jones Industrial Average by 0.86%, and the Nasdaq 100 by 1.45%, reflecting growing investor confidence amid optimism that the Middle East conflict may soon conclude, which could stabilize global markets.
- Strong Economic Data: The US ADP employment change for March increased by 62,000, surpassing expectations of 40,000, while February retail sales rose by 0.6% month-over-month, indicating robust economic recovery that may influence Federal Reserve policy decisions.
- Interest Rate Outlook: Despite a mere 1% chance of a 25 basis point rate hike at the upcoming FOMC meeting, hawkish comments from St. Louis Fed President raised concerns about inflation and employment risks, potentially affecting investor sentiment and market dynamics.
- Divergent Stock Performances: Target Hospitality surged by over 37% after securing a multi-year contract worth over $550 million, while Nike fell by more than 13% due to revenue forecasts indicating a decline, highlighting varied market reactions to company-specific news.
See More
