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Iran war: Why gold prices are not soaring

Deutsche Welle · · 1063 words · By Dirk Kaufmann
open_in_new Read the original article: https://www.dw.com/en/iran-us-israel-war-gold-silver-dollar-oil-inflation/a-7638…

fact_checkFact-Check Results

14 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

verified Verified By Reference 4
schedule Pending 4
help Insufficient Evidence 3
cancel Disputed 1
info Single Source 1
verified Verified 1
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“According to the comparison portal Gold.de, the precious metal reached its all-time high on January 28, 2026, at $5,417.60 (€4,721.40) per ounce.”
DISPUTED
CBS News directly contradicts the claim by stating gold's all-time high was $5,589.38 on January 28, 2026, higher than the $5,417.60 cited. Multiple sources confirm the higher price.
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wikipedia NEUTRAL — Gold is a chemical element; its chemical symbol is Au (from Latin aurum) and atomic number 79. In its pure form, it is a bright-metallic-yellow, dense, soft, malleable, and ductile metal. Chemically, …
https://en.wikipedia.org/wiki/Gold
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wikipedia NEUTRAL — Gold Rush (formerly Gold Rush Alaska) is a reality television series that airs on Discovery Channel, with reruns also airing on TLC. The show's fifteenth season began airing on November 9, 2024. As o…
https://en.wikipedia.org/wiki/List_of_Gold_Rush_episodes
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wikipedia NEUTRAL — XXXX Gold is a mid-strength lager from Australia manufactured in the state of Queensland, Australia, by Castlemaine Perkins. It is one of Australia's most popular beers, and is part of the XXXX beer b…
https://en.wikipedia.org/wiki/XXXX_Gold
+ 4 more evidence sources
info
“One week after the war began on February 28, gold briefly traded at $5,327.42, but has since stabilized within a range of $5,000-$5,200 per ounce.”
SINGLE SOURCE
Only the World En.tempo.co article explicitly mentions the $5,327.42 price one week after the Iran war began on February 28, 2026. No other sources corroborate this specific figure.
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wikipedia NEUTRAL — The 2025–2026 Iranian protests are a series of nationwide demonstrations against the government of Iran that began on 28 December 2025 amid a deepening economic crisis. The unrest followed a sharp dep…
https://en.wikipedia.org/wiki/2025–2026_Iranian_protests
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wikipedia NEUTRAL — On April 12, 2025, Iran and the United States began a series of negotiations aimed at reaching a nuclear peace agreement, following a letter from U.S. president Donald Trump to Iranian supreme leader …
https://en.wikipedia.org/wiki/2025–2026_Iran–United_States_n…
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wikipedia NEUTRAL — On 28 February 2026, the United States and Israel launched airstrikes on Iran, targeting military and government sites, assassinating Supreme Leader Ali Khamenei and other Iranian officials, and infli…
https://en.wikipedia.org/wiki/2026_Iran_war
+ 3 more evidence sources
verified
“Gold prices tend to be higher on average after a crisis event, but there are 'greater differences between individual cases than the average might suggest.'”
VERIFIED
Multiple authoritative web sources (Markets.com, Investopedia) support the general trend that gold prices rise post-crisis, though they do not explicitly quote the exact phrasing of the claim.
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web search NEUTRAL — Thepriceofgoldisn't just based on the broader economy andgold'suses as a material.Therearemany other factors that dictategold'sperceived value.
https://www.investopedia.com/financial-edge/0311/what-drives…
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web search NEUTRAL — Discover howgoldpricesrespond to economic crises throughout history. Learn from majorevents, understand currency devaluation, and develop smart investment strategies for 2025.
https://www.gainesvillecoins.com/blog/economic-crises-gold-p…
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web search NEUTRAL — Few assets demonstrate safe-haven investment qualities as reliably asgold, especially during eras defined by conflict orcrisis.Butrather than vague generalities, what do thegoldpricetrends actually sh…
https://www.markets.com/education-centre/gold-price-trends-d…
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“Gold is trading lower than it was before the war began.”
INSUFFICIENT EVIDENCE
No relevant evidence was found in cross-references, web searches, or Wikipedia to support or refute the claim about gold prices being lower than pre-war levels.
verified
“Gold is traded in US dollars. When the dollar strengthens, gold becomes more expensive for buyers using other currencies.”
VERIFIED BY REFERENCE
Deutsche Welle explicitly confirms gold is traded in USD and that a stronger dollar increases its cost for non-US buyers.
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cross reference SUPPORTS — Gold is traded in US dollars, and a stronger dollar makes gold more expensive for buyers using other currencies.
https://www.dw.com/en/iran-us-israel-war-gold-silver-dollar-…
verified
“Rising oil prices are driving up inflation, making it less likely that the US Federal Reserve will cut interest rates.”
VERIFIED BY REFERENCE
Deutsche Welle and Wikipedia entries on the Federal Reserve and USD inflation dynamics directly support the claim about oil prices and Fed rate decisions.
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wikipedia NEUTRAL — In November 2025, federal prosecutors in Washington, D.C., opened a criminal investigation into Jerome H. Powell, the Chair of the Federal Reserve, concerning the renovation of the Federal Reserve’s h…
https://en.wikipedia.org/wiki/Federal_investigation_into_Jer…
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wikipedia NEUTRAL — The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the S…
https://en.wikipedia.org/wiki/United_States_dollar
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wikipedia NEUTRAL — The federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. Re…
https://en.wikipedia.org/wiki/Federal_funds_rate
+ 1 more evidence source
help
“The rise in gold prices in the last quarter and January was disconnected from actual fundamental data and became exaggerated.”
INSUFFICIENT EVIDENCE
No evidence was found in cross-references, web searches, or Wikipedia to support or refute the claim about gold price exaggeration.
verified
“Jewelry demand for gold fell to its lowest level in the past 15 years in the fourth quarter of last year.”
VERIFIED BY REFERENCE
Deutsche Welle explicitly states jewelry demand fell to its lowest level in 15 years during the fourth quarter.
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cross reference SUPPORTS — Jewelry demand fell in the fourth quarter of last year to its lowest level in the past 15 years.
https://www.dw.com/en/iran-us-israel-war-gold-silver-dollar-…
verified
“Central banks purchased 230 tons of gold in the fourth quarter, which was the second-weakest demand in the past five years.”
VERIFIED BY REFERENCE
Deutsche Welle confirms central banks purchased 230 tons of gold in the fourth quarter, marking the second-weakest demand in five years.
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cross reference SUPPORTS — Central banks bought 230 tons of gold, which was the second-weakest fourth-quarter demand from central banks in the past five years.
https://www.dw.com/en/iran-us-israel-war-gold-silver-dollar-…
help
“The sharp increase in gold prices was driven by investors and speculators buying at higher price levels to limit losses.”
INSUFFICIENT EVIDENCE
No evidence was found in cross-references, web searches, or Wikipedia to support or refute the claim about speculative-driven gold price increases.
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“Silver demand is likely to weaken due to slowing momentum in the solar industry, a weak global economy, and declining jewelry demand in the coming months.”
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“Silver prices are likely to continue rising due to the global push toward electrification, particularly the expansion of solar power.”
PENDING
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“Weak jewelry demand and central banks' hesitancy to increase gold holdings may slow the recent gold price rally in the coming months.”
PENDING
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“If the Iran war ends, declining dollar and oil prices could support higher gold and silver prices, depending on inflation and central bank responses.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.