Gold fiel während eines aktiven Krieges um 7 % – Nachschussforderungen erzwangen den Verkauf

COMEX gold dropped 7.26% on 19 March while four Gulf states were absorbing simultaneous Iranian missile and drone strikes. That’s counterintuitive — gold is supposed to be the safe haven during exactly this kind of event. The article explains the mechanism: margin calls forced funds to liquidate their most liquid non-cash asset to cover losses elsewhere. All three US equity indices breached their 200-day moving averages simultaneously for the first time in 2026, triggering cascading margin requirements.

The pattern is identical to March 2020: commodity spike, equity cascade, then safe-haven liquidation. The difference is this one has an active shooting war underneath it with Hormuz still 95% blocked and 150+ vessels stalled.

What caught my attention is the CDX high-yield spread approaching 470 basis points — that’s the threshold where institutional risk models typically force de-risking. If it crosses, the selling becomes mechanical rather than discretionary. Worth watching alongside the FOMC decision.