1. The price of gold falls below $5,000/ounce amid ongoing conflict in the Middle East: The global price of gold dropped below $5,000/ounce on the morning of March 16 as the conflict in the Middle East entered its third week and oil prices soared following attacks on energy infrastructure over the weekend. The main downward pressure on the price of gold has been the sharp rise in crude oil prices (currently around $99.91/barrel) after American military operations targeting the main Iranian oil export hub led to retaliation from the Middle Eastern country.
2. WTO: Global trade facing its most serious crisis in 80 years: World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala warned that the global trading system is undergoing its deepest crisis in 80 years. She stated that unilateral tariff measures by the United States have caused severe disruptions.
3. IEA decides to immediately release strategic oil reserves: The International Energy Agency (IEA) has decided to release strategic oil reserves to address supply disruptions caused by the conflict in the Middle East. As a result, reserves from Asia and Oceania will be released immediately, while supplies from the Americas and Europe will begin to be released from the end of March 2026.
4. Optimistic signals from Sino-American trade negotiations in Paris: Senior American and Chinese economic officials held “frank and constructive” discussions in Paris, paving the way for President Donald Trump’s visit to China at the end of March. The discussions focused on areas where an agreement could be reached, such as agriculture, essential minerals, and the establishment of common trade management mechanisms.
5. Chinese economy unexpectedly rebounds despite conflict risks: Key Chinese economic indicators for the first two months of 2026 were more positive than expected, suggesting that the economy is on a stronger footing before the Middle East conflict creates new risks. Industrial production recorded its fastest growth pace since September 2025, fixed capital investments unexpectedly increased, and retail sales saw a significant acceleration.
6. President Trump asserts the right to impose new tariffs: American President Donald Trump stated he has “absolute authority” to impose new tariffs, despite the Supreme Court rejecting his previous international tariff measures. Immediately after this decision, Trump signed an order imposing a 10% tariff on imports. He also criticized a federal judge for quashing subpoenas in the investigation targeting Federal Reserve Chairman Jerome Powell, arguing that the decision was politically motivated.
7. U.S. considers forming an alliance to escort ships in the Strait of Hormuz: The White House plans to form a multinational alliance to escort ships sailing through the Strait of Hormuz, amid conflict in the Middle East threatening this vital maritime route. President Donald Trump requested seven countries heavily dependent on the region’s oil to send warships to participate in this initiative. He emphasized that these countries must commit to protecting their own interests.
8. Bitcoin “loses ground” against rising traditional economic assets: While the conflict in Iran drives up prices of traditional assets like oil and precious metals, the Bitcoin price remains range-bound. Since the beginning of 2026, the cryptocurrency has mostly fluctuated between $60,000 and $75,000/BTC and has dropped over 40% from its peak.
9. Conflicts in the Middle East hit poor populations hard: The conflicts in the Middle East have a devastating economic impact, with poor populations in energy-importing Asian countries suffering the most severe consequences. Fuel shortages and price spikes in countries like Bangladesh, India, and Pakistan are reducing incomes and making daily life difficult for millions of people.
10. Energy price surge: EU seeks solutions: Energy ministers from the European Union (EU) have come together to discuss solutions to the surge in energy prices linked to the conflict in the Middle East. Several member states have taken the initiative to cap fuel prices, while proposals to restructure the electricity market and reform the EU’s emission trading system have also been put forward. However, internal disagreements persist regarding intervention measures.
