Asia Market Movers: Gold and silver find renewed bids in Asia but sellers quickly arrive

Tuesday, 03 Mar, 2026 Commodities Gold and silver find renewed bids in Asia but sellers quickly arrive Gold jumped at the weekly open due to uncertainty around the Iran war but that quickly gave way to profit taking and it sagged down to $5300. Then a second and third wave of bids arrived in Europe and News Trump says he doesn't think boots on the ground will be necessary in Iran The market is trying to suss out what the plan is for Iran. Yesterday there was an interview with John Bolton that emphasized that Trump is impulsive and likes to improvise. Trump himself also outline Learn more News Australian January building approvals -7.2% m/m vs +5.0% expected Expected was +5.0% (some at 5.5%) Prior was -14.9% Private house approvals +1.1% vs +0.4% prior Building approvals +8.7% y/y vs +13.3% prior This is a sharp two-month drop in construction activity but News Japan January unemployment rate 2.7% vs 2.6% prior Prior was 2.6% Jobs-to-applicants ratio 1.18 vs 1.19 expected Prior ratio 1.19 Japan's unemployment rate held at 2.6% for four consecutive months through December, up from 2.4% in June and a cycle low Technical Analysis After the first day of trading the Iran war, bonds are the big surprise When I survey the scene in markets after one day of post-Iran war trading, there isn't much surprising given the news. Naturally, oil rallied and the 8% climb is about what I would have expected given News New Zealand January building consents +1.9% vs -4.6% prior New Zealand building consents rose 1.9% on a seasonally adjusted basis in January, clawing back some of December's 4.5% decline. The monthly number is fine but the real story here is in the annual fig News investingLive Americas FX news wrap 2 Mar:Oil higher. Stocks rebound.Reactions to Iran war S&P and NASDAQ indices erase war declines and close higher on the day Reports of disruptions in the Strait of Hormuz is sending oil prices back higher Trump; US continues to carry out large scale Central Banks RBC's Bullock: An oil supply shock could add to inflation pressures Board uncertain if financial conditions sufficiently restrictive to return inflation to midpoint of target in reasonable timeframe Range of indicators tell us that labour market conditions are tight E Learn more Stocks S&P and NASDAQ indices erase war declines and close higher on the day The broader S&P 500 and NASDAQ indices closed higher on the day after staging an impressive rebound from sharp losses seen shortly after the open . Early selling pressure faded as buyers stepped b

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