# Oil surged. Gold crashed. Nothing behaved the way it should.

**URL:** <https://community.deriv.com/t/oil-surged-gold-crashed-nothing-behaved-the-way-it-should/89310>\
**Category:** Our experts\
**Created:** [March 31, 2026, 11:03am UTC](https://community.deriv.com/t/oil-surged-gold-crashed-nothing-behaved-the-way-it-should/89310 "2026-03-31T11:03:01Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![deriv-desk](https://sea2.discourse-cdn.com/flex020/user_avatar/community.deriv.com/deriv-desk/32/8714_2.png) [@deriv-desk](https://community.deriv.com/u/deriv-desk)\
**Post date:** [March 31, 2026, 11:03am UTC](https://community.deriv.com/t/oil-surged-gold-crashed-nothing-behaved-the-way-it-should/89310/1 "2026-03-31T11:03:01Z")

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Gold is supposed to rally during a war. It didn’t.

Oil surged 13%. Gold hit $5,400 — then crashed below $5,000 the very next day. Silver fell 9%. Every asset moved. Most of them moved in the wrong direction.

Prakash Bhudia breaks down the second-order effect that caught markets off guard — and the signals traders should be watching right now.

👉 [The volatility cascade: When everything moves at once](https://experts.deriv.com/insights/oil-surge-gold-crash-iran-hormuz-impact)