New York —
The war with Iran is disrupting global oil flows, damaging energy infrastructure and raising fears of prolonged conflict. But gold, usually considered a safe haven during periods of economic uncertainty, has slumped.
Gold has dropped nearly 10% this week, putting it on track for its worst week in 43 years and bringing its decline since the war began to 13%.
In times of turmoil, investors often buy gold, betting it will retain its value if inflation spikes, currencies drop or crisis hits. Yet surging energy prices because of the Middle East