Iranians are hoarding gold as a safeguard against a collapsing local currency and soaring cost of living as the U.S. is poised to impose economic sanctions on Iran, pushing the metal’s price to records in Tehran. On Tuesday just after midnight U.S. Eastern time, the Trump administration is set to bring back a first wave of restrictions that had been waived under the Iran nuclear deal, an Obama-era agreement that gave Iran sanctions relief in exchange for curbs on its nuclear program. President Trump exited that multilateral deal in May , saying it didn’t address Iran’s military posture in Syria, Lebanon and other Middle Eastern countries. The new sanctions limit dealings in Iran’s currency and with its automotive industry. They also threaten U.S. penalties for banks that finance the precious-metals trade with Iran and against anyone who sells precious metals to the Iranian government. Worried about a shaky economy […]