On March 2, resource-related ETFs, including oil and gas as well as gold, experienced a full-scale surge driven by a sudden escalation of geopolitical tensions in the Middle East. As of the latest update, multiple oil and gas ETFs were locked at their daily limit-up, while gold ETFs also recorded substantial collective gains.
Oil and gas ETFs led the rally with a wave of limit-up movements. Data showed that the S&P Oil & Gas ETF (513350) hit limit-up with a gain of 10.03%. Both the YinHua Oil & Gas ETF (563150) and the Huatian Fu Oil & Gas ETF (159309) reached limit-up, each rising by 10.00%. The Boshi Oil & Gas ETF (561760) advanced 9.98%, approaching limit-up, while the Jiashi S&P Oil & Gas ETF (159518) climbed 9.97%.
Additionally, the Fuguo Oil ETF (159148) rose 9.17%, the Oil & Natural Gas ETF (159588) increased 9.11%, the Penghua Oil ETF (159697) gained 8.96%, the Huatai Baori Oil & Gas ETF (561570) added 8.72%, and the Oil ETF (561360) was up 8.13%.
Gold ETFs also delivered strong performances. By the latest update, the Guotai Fund Gold Equity ETF (517400) surged over 5.89%, the ICBC Gold Equity ETF (159315) rose more than 5.71%, and the Yongying Fund Gold Equity ETF (517520) increased over 5.63%.
The catalyst behind the rally was a sharp turn in Middle East tensions, which fueled risk-off sentiment. Reports indicated that the United States and Israel launched a large-scale joint air and naval military strike, codenamed "Roaring Lion," targeting Iran. The attacks covered locations such as the presidential palace in Tehran, military bases, and nuclear facilities. Iran subsequently announced the closure of the Strait of Hormuz and launched retaliatory strikes against U.S. military bases.
This sudden geopolitical event quickly rippled through global capital markets: international gold prices broke through $5,200 per ounce to reach a historic high, while Brent crude oil surged above $72 per barrel. Shipping rates for oil tankers also hit record highs for the same period.
Market analysts suggest that the abrupt escalation in Middle East tensions has directly heightened concerns over potential disruptions to crude oil supply, while simultaneously triggering strong safe-haven demand. As a result, resource assets such as oil, gas, and gold have become favored targets for capital inflows. By the latest update, trading volumes for multiple oil and gas ETFs had expanded significantly, indicating growing investor attention.
Investors are reminded that all investments carry risks and should be approached with caution. The impact of geopolitical events on markets remains uncertain, and it is essential to monitor developments closely and invest rationally.
