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Gold vs oil: Which offers better protection from rising prices during the Iran war?

Euronews · May 8, 2026, 5:00 AM · Also reported by 4 other sources

Why this matters: an international story with cross-border implications worth tracking.

Conventional wisdom holds that gold protects investors during war and inflation. The Iran conflict has turned that assumption on its head. Since the outbreak of the war, Brent crude has rallied 37%, while gold has fallen 10%. The driving force is interest rates, not geopolitics.

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