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

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.

First seen · 5:00 AM UTCMay 8, 2026

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

May 8th, 1945, marked the unconditional surrender of Nazi Germany — the end of World War II in Europe after nearly six years of conflict. Street celebrations erupted from London to Moscow. In Germany the same date is called Tag der Befreiung, Liberation Day, a reminder that the same event carries different meaning depending on where you stood.