Iran’s public turns to gold as a trusted hedge against inflation, sanctions, and a depreciating currency following the recent 12-day war with Israel. Traders report surging demand for gold, silver, diamonds, and cryptocurrencies as people seek portable wealth in uncertain times, fearing another war.

Gold sales spike in Tehran as 18-karat gold bars trade at around $100, gold coins exceed $1,000, and silver ingots cost nearly $2,000. The price of a gold coin surpasses 1.2 billion rials for the first time in Iran’s history, prompting interest in silver as a valuable investment amid economic challenges.

Reports of mass layoffs in Iran’s economy lead to families selling valuables to cope with financial strain. The U.S. crackdown on Iranian cryptosellers drives Iranians to convert savings into gold, viewing it as a stable asset in turbulent times.

Wealthier investors turn to diamonds and gemstones for discreet, portable stores of value amid economic pressures and sanctions. Iranians seek ways to safeguard their wealth and assets, turning to hard currency, jewelry, and precious stones as avenues for financial security.

Iranians recall past instances of economic turmoil and war, highlighting the importance of portable assets in times of crisis. The historical precedent of fleeing conflict with valuable possessions underscores the necessity of having liquid assets like gold and foreign currency for emergencies.

Read more at Yahoo Finance: Iranians seek portable wealth as hedge against falling currency after Israel war