Iran conflict stress-tests safe-haven status as gold jumps 5.2% and steadies near $4,700 while Bitcoin slides

After the Iran conflict began on February 27, 2026, gold rose 5.2% within 48 hours and later stabilized near $4,700 per ounce. Global central banks bought 244 tonnes in Q1 2026, reaching a record market value of $193 billion, while gold ETFs recorded $19 billion of inflows in a single month and total AUM climbed to $669 billion. The article attributes the rally to conflict-driven safe-haven demand and structural central-bank buying, while noting gold’s negative correlation with major equity indexes such as the Nasdaq and S&P 500.