Emtia Balance in the Middle East Crisis

While logistical restrictions in the Hürmüz Boğaz drive oil prices up, investors in the search for a safe harbor keep gold demand alive, while Fed’s claims to keep interest rates at high levels hinder aggressive rises in gold prices.

Over the past six months, following the military mobility that began in the region in February 2026, prices have changed as follows:

Brent and WTI Petroleum: Oil prices, averaging $62.26 per barrel in February 2026, have risen to the $81.71 – $87.08 range as of August 2026 as a result of the supply shock.

Ons Gold: In February, when the crisis first broke out, the ounces of gold, which saw its historic peak, climbed to the level of $ 2,905,90 with panic purchases, balanced in the $ 2,371,90 - $ 2,467,50 band as of August 2026.

Fed Statements and Market Balance

The U.S. Central Bank (Fed) officials’ statements about “holding interest rates high and steady for a long time” put pressure on gold.The trend of transitioning from non-interest gold to dollar bonds offering high yields prevents gold from making new aggressive peaks.

However, geopolitical risks and oil-related inflation pressures due to the shutdown of the Hürmüz-Bahá’í are preventing the sharp downturn.As a result, markets continue to find direction in line with the balance between the Fed’s interest rate policy and the geopolitical developments in the Middle East.