Iran war: Why gold prices are not soaring
Fact-Check Results
“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.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to confirm or refute the specific date and price claim.
“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.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to verify the war-related price movement timeline.
“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.'”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to assess the statistical relationship between crises and gold prices.
“Gold is trading lower than it was before the war began.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to compare pre-war and current gold prices.
“Gold is traded in US dollars. When the dollar strengthens, gold becomes more expensive for buyers using other currencies.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to verify the dollar-gold price relationship claims.
“Rising oil prices are driving up inflation, making it less likely that the US Federal Reserve will cut interest rates.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to evaluate the connection between oil prices and Fed policy.
“The rise in gold prices in the last quarter and January was disconnected from actual fundamental data and became exaggerated.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to assess the fundamental data connection to gold price rises.
“Jewelry demand for gold fell to its lowest level in the past 15 years in the fourth quarter of last year.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to verify jewelry demand statistics.
“Central banks purchased 230 tons of gold in the fourth quarter, which was the second-weakest demand in the past five years.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to confirm central bank purchase figures.
“The sharp increase in gold prices was driven by investors and speculators buying at higher price levels to limit losses.”
❓
INSUFFICIENT EVIDENCE
— No evidence found in archive to evaluate speculative driving factors behind gold price increases.
“If the Iran war ends, declining dollar and oil prices could support higher gold and silver prices, depending on inflation and central bank responses.”
❓
PENDING
“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.”
❓
PENDING
“Weak jewelry demand and central banks' hesitancy to increase gold holdings may slow the recent gold price rally in the coming months.”
❓
PENDING
“Silver prices are likely to continue rising due to the global push toward electrification, particularly the expansion of solar power.”
❓
PENDING