What was the gold price before U.S.–Iran?

Gold's monthly average was $1,479 a troy ounce in Dec 2019, the month before.

What did silver do after U.S.–Iran?

After U.S.–Iran, silver was 11.7% lower three months on and 51.5% higher twelve months on, measured from the Dec 2019 monthly average.

Gold after U.S.–Iran (2 Jan 2020)

After U.S.–Iran on 2 Jan 2020, gold was 13.8% higher three months on and 26.2% higher twelve months on, measured from the Dec 2019 monthly average of $1,479 a troy ounce.

Gold before: $1,479; Dec 2019
Gold +3 months: +13.8%
Gold +12 months: +26.2%
Silver +12 months: +51.5%

In context

U.S. strike killed Qassem Soleimani (evening, U.S. Eastern).

Over the same months silver was 11.7% lower three months on and 51.5% higher twelve months on.

Of the 10 geopolitical or monetary shocks on the chart with a full year after them, this ranks 5th for gold twelve months on.

The geopolitical or monetary shock before it on the chart: Brexit (23 Jun 2016).

The one after: COVID declared a pandemic (11 Mar 2020).

Monthly average prices in U.S. dollars per troy ounce (Kitco.com and the World Bank Pink Sheet), from the last full month before a period to its last full month; the record runs Feb 1971 to Oct 2026. What the record did, not a forecast. Source: defense.gov.

Open this in the chart

Updated Oct 2026 · record through Oct 2026