Global financial markets edged into volatile territory Friday as fears grew that crude oil prices could surge toward $180 per barrel amid escalating tensions in the Middle East.

Officials in Saudi Arabia warned that worsening conflict with Iran could disrupt global oil supplies, raising concerns of a prolonged energy shock. Analysts said if instability persists into April, the price spike could trigger widespread economic consequences, including higher inflation, rising transportation costs, and pressure on energy-dependent industries.

Investors are bracing for increased volatility across equities, commodities, and currency markets. Economists cautioned that oil-importing nations may face widening trade deficits, while exporting countries could see short-term revenue gains overshadowed by risks of a global slowdown.

Meanwhile, gold prices posted one of their sharpest declines on record, signaling a shift in investor sentiment. Domestic gold per tola dropped below Rs 500,000, falling Rs 24,300 to Rs 499,462, while 10 grams declined to Rs 428,208. In international markets, gold fell $243 per ounce to settle at $4,767, while silver lost six percent.

Market experts attributed the decline to a stronger U.S. dollar, shifting demand dynamics, and broader market corrections.

The contrasting movements in oil and gold highlight growing uncertainty, with investors weighing geopolitical risks against traditional safe-haven assets. Analysts warned that sustained tensions could keep global markets under pressure in the coming weeks, emphasizing the need for cautious investment strategies.