GENEVA: More than 700,000 undocumented Afghans have returned from Iran this year as the Iranian economy tightens, with a knock-on effect on the Afghan economy, according to data from the UN’s migration agency.
In a report covering the period up to Dec. 1, the International Organization for Migration said a total of 752,325 Afghans had returned from Iran and Pakistan, including 721,633 from Iran.
“Undocumented returns from Iran in particular are seeing a massive increase over previous years, largely driven by recent political and economic issues in Iran including massive currency devaluation,” the IOM report said.
Demand for Afghan labor in Iran’s informal economy had drastically fallen, it added.
“As all Afghans typically send home their earnings in the form of monthly remittances, the Afghan economy itself, already evident in the drought affected provinces of Herat, Badghis and Ghor, is suffering direct and immediate effects.”
Iranian media reports say many of the Afghans had returned or were seeking to enter Turkey to reach Europe after the fall of the Iranian currency, which has lost about 70 percent of its value this year.
Iran emerged in early 2016 from years of global sanctions under a deal with world powers that curbed its disputed nuclear program.
But US President Donald Trump withdrew the United States from the deal in May, calling it flawed to Iran’s advantage, and reimposed far-reaching US sanctions in phases, with the most damaging oil and banking penalties taking effect on Nov. 5.
Jan Egeland, head of the Norwegian Refugee Council, told Reuters that increasing US pressure on Iran would cause problems for Afghanistan.
“The Trump sanctions will put the Iranian economy into a void, and is doing that. (The people) who will first lose a grip on their existence are the Afghan registered and unregistered refugees and migrants,” he said.
Last month the top UN humanitarian official in Afghanistan, Toby Lanzer, told reporters in Geneva that the UN had expected up to 700,000 Afghans to return from Pakistan this year, but very few had made the move, while the returns from Iran took the UN by surprise.
![]()
More than 700,000 Afghans leave Iran as economy slows
More than 700,000 Afghans leave Iran as economy slows
- More than 700,000 undocumented Afghans have returned from Iran this year as the Iranian economy tightens
- Demand for Afghan labor in Iran’s informal economy had drastically fallen
Gold slips over 1 percent on strong dollar, easing rate-cut bets
- Chile central bank issues first gold purchase in decades
- BMI expects silver to average $93/oz in 2026
Gold prices fell more than 1 percent on Thursday, pressured by a stronger dollar and diminishing hopes for a reduction in borrowing costs as the ongoing Iran war stoked inflation concerns.
Spot gold dipped 1.1 percent at $5,118.16 per ounce by 1:31 p.m. ET (1731 GMT). US gold futures for April delivery settled 1 percent lower at $5,125.80.
The dollar gained for a third consecutive session. The greenback is a competitive safe-haven asset, and a stronger US currency makes gold more expensive for holders of other currencies.
“The higher dollar index, rising treasury yields and lack of interest-rate cuts are the negative factors, but the conflict in the Middle East has been generating some safe-haven flows,” said Phillip Streible, chief market strategist at Blue Line Futures.
Two tankers were ablaze in Iraqi waters in an apparent escalation in Iranian attacks that have cut off Middle East energy supplies. In reaction, oil prices rose sharply for the day.
Iran will avenge the blood of its martyrs, keep the Strait of Hormuz closed and attack US bases, new Supreme Leader Ayatollah Mojtaba Khamenei said.
Higher crude prices feed into inflation by raising transportation and production costs. Gold is considered an inflation hedge, but high interest rates weigh on it by making yield-bearing assets more attractive.
“If they can prevent oil prices from climbing further, gold should be in a good place... On the bullish side for gold, the main argument is that central bank buying and steady exchange-traded fund inflows, which have remained positive all year,” Streible added.
Chile’s central bank issued its first major gold purchase since at least 2000. In February, the bank boosted its gold reserves to $1.108 billion, up from $42 million in January, equivalent to 2.2 percent of total reserves.
Elsewhere, spot silver eased 1 percent to $84.90. Prices gained more than 146 percent last year.
Analysts at BMI wrote in a note they expect silver to average $93 per ounce in 2026, with strong investment demand consolidating the gains witnessed in 2025, and offsetting price-induced demand destruction in solar panels and jewelry.
Spot platinum lost 1.1 percent to $2,145.75, and palladium fell 1 percent to $1,620.86.
Spot gold dipped 1.1 percent at $5,118.16 per ounce by 1:31 p.m. ET (1731 GMT). US gold futures for April delivery settled 1 percent lower at $5,125.80.
The dollar gained for a third consecutive session. The greenback is a competitive safe-haven asset, and a stronger US currency makes gold more expensive for holders of other currencies.
“The higher dollar index, rising treasury yields and lack of interest-rate cuts are the negative factors, but the conflict in the Middle East has been generating some safe-haven flows,” said Phillip Streible, chief market strategist at Blue Line Futures.
Two tankers were ablaze in Iraqi waters in an apparent escalation in Iranian attacks that have cut off Middle East energy supplies. In reaction, oil prices rose sharply for the day.
Iran will avenge the blood of its martyrs, keep the Strait of Hormuz closed and attack US bases, new Supreme Leader Ayatollah Mojtaba Khamenei said.
Higher crude prices feed into inflation by raising transportation and production costs. Gold is considered an inflation hedge, but high interest rates weigh on it by making yield-bearing assets more attractive.
“If they can prevent oil prices from climbing further, gold should be in a good place... On the bullish side for gold, the main argument is that central bank buying and steady exchange-traded fund inflows, which have remained positive all year,” Streible added.
Chile’s central bank issued its first major gold purchase since at least 2000. In February, the bank boosted its gold reserves to $1.108 billion, up from $42 million in January, equivalent to 2.2 percent of total reserves.
Elsewhere, spot silver eased 1 percent to $84.90. Prices gained more than 146 percent last year.
Analysts at BMI wrote in a note they expect silver to average $93 per ounce in 2026, with strong investment demand consolidating the gains witnessed in 2025, and offsetting price-induced demand destruction in solar panels and jewelry.
Spot platinum lost 1.1 percent to $2,145.75, and palladium fell 1 percent to $1,620.86.
Latest updates
© 2026 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.