Here's What to Expect for Gold and Silver Mining Stocks as the Iran Conflict Continues

2 hours ago 2

Lee Samaha, The Motley Fool

Sun, March 29, 2026 astatine 10:35 AM CDT 4 min read

Sometimes the communicative and capitalist perceptions don't acceptable the reality. Investors are forced to realign the mode they deliberation astir an plus people or, successful this case, the plus classes of golden and metallic oregon buying golden miners similar Newmont (NYSE: NEM) oregon a metallic miner similar Hecla Mining (NYSE: HL).

While the 2 precious metals person antithetic dynamics, they person some surged successful caller years, driven by speculative concern that somewhat unwound during the caller broad-based marketplace sell-off. That wasn't expected to hap to alleged safe-haven investments, but that moniker needs immoderate qualification.

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Whenever there's a wide sell-off successful assets, investors look to rise currency by selling, and it's understandable if they instrumentality profits connected assets that person soared successful caller years, similar golden and silver. That sell-off volition beryllium much pronounced if request for golden and metallic comes chiefly from speculative concern alternatively than from underlying demand, specified arsenic from the jewelry, electronics, technology, oregon concern sectors.

A idiosyncratic   wearing golden  jewelry.

Image source: Getty Images.

There's grounds of increasing concern request but declining underlying request amid rising prices for some metals. Jewelry request declined successful 2025, and truthful did Central Bank demand. The second is somewhat surprising, fixed that the bull lawsuit for golden often rests connected the thought that Central Bank buying volition thrust golden prices higher.

Gold Demand (tonnes)

2024

2025

Change*

Technology

326 tonnes

323 tonnes

(3) tonnes

Jewelry

2,026 tonnes

1,638 tonnes

(388) tonnes

Investment

1185 tonnes

2,175 tonnes

990 tonnes

Central Banks

1092

863 tonnes

(229) tonnes

Total

4,630 tonnes

4,999 tonnes

370 tonnes

Data source: World Gold Council Research. *Numbers whitethorn disagree owed to rounding.

Turning to silver, declining underlying request is again offset by accrued concern demand, but dissimilar gold, it's not capable to afloat offset it.

Silver Demand (million ounces)

2024

2025

Change*

Industrial

681 cardinal ounces

677 cardinal ounces

(3) cardinal ounces

Photography

26 cardinal ounces

24 cardinal ounces

(1) cardinal ounces

Jewelry

209 cardinal ounces

196 cardinal ounces

(13) cardinal ounces

Silverware

54 cardinal ounces

46 cardinal ounces

(8) cardinal ounces

Net carnal investment

191 cardinal ounces

204 cardinal ounces

14 cardinal ounces

Net hedging demand

4 cardinal ounces

(4) cardinal ounces

Total

1,164 cardinal ounces

1,148 cardinal ounces

(16) cardinal ounces

Data source: The Silver Institute.* Numbers whitethorn disagree owed to rounding.

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