(Kitco News) – Despite Iran war headwinds, gold prices are still on track to reach a fresh all-time high of $5,800 per ounce before year-end, while silver’s supply deficit and dual demand make it the better medium-term bet, according to Nicky Shiels, head of research and metals strategy at MKS PAMP. Shiels said in a recent interview that the Iran war has “reshaped, but not derailed” the bull case for gold, and she expects the yellow metal will ultimately gain 30% in 2026.