AGE Gold Commentary

AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.

3/9/2026: Iran war impact on oil, gold, silver, equities

Just over a week ago, the United States and Israel launched major attacks on Iran, igniting a new war in the Middle East.

The reaction of global markets was initially mild. But as the consequences begin to emerge--the damage to oil production, the disruptions in global oil supplies, the uncertainty of the scale and duration of the war--the market reaction is intensifying.

Each day this conflict continues, the challenge of delivering energy to an oil-hungry world becomes more serious. Global markets are beginning to register not merely the prospect of substantially higher oil prices, but perhaps a full-blown energy crisis as well.

In this AGE Gold Commentary for Monday March 9, we break down how this major geopolitical shock is affecting gold, silver, oil, and US stock markets.

We’ll also look at the latest US economic data, which shows higher inflation and weaker employment than expected--a troubling combination that raises the risk of stagflation.

In the near term, however, the economy may be far more affected by the Iran war and the growing uncertainty surrounding the world’s energy supply.

You can also view this video on the AGE YouTube channel, which includes a transcript.

Sincerely,

Dana Samuelson
President