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Since the Iranian war started on Feb. 28, 2026, the Gold price has dropped $260 per ounce. However, I believe the human, relationship, and financial costs of this Iranian war will drive the price of Gold to $6,000 by the end of the summer. Currently, most financial markets are uncertain and uncertain about the long-term effects of higher oil prices and what the future holds for the Middle East, the world, and especially the U.S.

Many Gold investors have short memories, but let me remind you that Gold was $4,325 per ounce at the beginning of 2026. So at $5,000 per ounce, even with the recent correction, we are still up 15½% this year. Long-term precious metal investing, whether it be over 10 years or 1,000 years, has proven that Gold is the best asset to own to protect against inflation or currency devaluation.

The items listed below have recently been reported in the news:

1. Tehran is considering allowing a limited number of oil tankers to move through the Strait of Hormuz, provided that the cargo is traded in Chinese yuan.

2. Iran will allow ships to go through the Strait of Hormuz if they are not U.S. or Israeli.

3. The U.S. is sending 2,200 U.S. Marines to Iran.

4. Russia is providing intelligence on the U.S. to Iran.

5. Trump urges China to help address the Strait of Hormuz crisis

6. The Iranian foreign minister claims Trump launched the war “because it is fun.”

7. The Trump administration says this war should end within 4 to 6 weeks from the start.

8. The Trump administration says the current cost of the Iranian war is $12 Billion.

When looking at the above headlines, they provide no clear idea about the direction of the Iranian war. However, the problems caused by this war, including higher gasoline prices, airline cancellations in the Middle East, food inflation, and other disruptions, are already being felt.

On Friday, Gold closed at $5,012 per ounce, down $150 for the week. This decline in the Gold price was partially caused by the U.S. Dollar, which closed at 100.50, the highest level in the past two years.

Today: While I was watching Gold trade last night and early this morning in Australia, China, India, and London, the price traded above and below the key $5,000 level six times. During this highly volatile trading, Gold reached a low of $4,968 and a high of $5,031. This is the ninth time Gold has tested the key $5,000 support level and bounced back since reaching the all-time high of $5,580 on January 29, 2026.

Silver closed at $80.45 per ounce last Friday, down $2.81 for the week. Silver traded last week between $78.80 and $89.20 as it continues to try to build a firm base above the key $80 per ounce level. I expect to see all precious metal prices remain highly volatile for a while as this war develops and the oil price rallies.

Today: While Gold is having a difficult time staying over $5,000 per ounce, Silver is having the same problem with $80 per ounce. Last night in overseas trading and this morning in the U.S., Silver moved between $76.96 and $81.75 in highly volatile trading.

2025 was an extraordinary year for precious metal investors, with Gold, Silver, and platinum prices up 70% to 150%. However, many Gold rare coins ($5,000 to $50,000) and Silver rare coins ($200 to $5,000) show little to no appreciation. In many cases, prices were lower in 2025. The only exception is certified “finest known” rarities with very low PCGS or NGC populations, which are setting record highs.

Investment quality Walking Liberty Half Dollars, Morgan Dollars, and Peace Dollars are definitely undervalued right now. In addition, many of the Gold Type coins from $1 to $20 Saints are truly bargains at the current price of Gold. I have seen similar periods when precious metals rallied sharply and stole the spotlight from the high-quality rare coin market.

When the Gold and Silver prices increase slowly and they build a firm base, rare coin collectors and investors will recognize the value, and prices will start moving higher.

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Barry Stuppler has been a professional numismatist for over 60 years and is considered one the nation’s foremost experts in rare coins and precious metals. Mr. Stuppler is a past President of the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG). He is currently chairman of the Federal and California State Gold & Silver Political Action Committees, and president of the
Anti-Counterfeiting Educational Foundation. Barry Stuppler, the original founder of MintStateGold.com, is proud to say he has helped over 25,000 rare coin and precious metal investors and collectors to build their collections and holdings. For more information about Barry click here.

All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of Stuppler & Company’s knowledge at this time. Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.

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