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The power of Bullet Punch, Comet Punch, Dizzy Punch, Drain Punch, DynamicPunch, Fire Punch, Focus Punch, Hammer Arm, Ice Punch, Mach Punch, Mega Punch, Meteor Mash, Shadow Punch, Sky Uppercut, and ThunderPunch is multiplied by 4915/4096 (about 120%) when used by the wielder. It does not power up Sucker Punch.
Iron Fist is a good ability for Pokemon that rely a lot on punching moves, particularly Hitmonchan and Golurk, as it boosts the power of Focus Punch to obscene levels. It also gives the elemental punches and Mach Punch some neat utility as coverage moves. For Infernape, Iron Fist is a fantastic ability in comparison to Blaze, even though Mach Punch is the only attack it boosts that Infernape commonly uses. Usually, if a better ability is available, or if the Pokemon does not have to or cannot rely on punching moves, Iron Fist serves little purpose, such as on Ledian and Conkeldurr. All in all, Iron Fist is a decent ability, but relies heavily on the Pokemon's movepool.
Found in Dream World