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Investors Face Risks as Bonds, Gold Underperform Amid Conflict

3/24/2026

29 3 Full Breakdown

Summary

Story summary

Investors face renewed risk as government bonds and gold fail to provide safety amid the Iran conflict.
Gold, which previously surged, has struggled recently due to liquidity needs.
Government bonds have underperformed since the Ukraine invasion in 2022, as inflation and central bank tightening push yields higher.
A recent analysis of 300 years of wartime spending shows bonds often incur real losses, underperforming stocks and real estate.

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Story summary

Investors face renewed risk as government bonds and gold fail to provide safety amid the Iran conflict.
Gold, which previously surged, has struggled recently due to liquidity needs.
Government bonds have underperformed since the Ukraine invasion in 2022, as inflation and central bank tightening push yields higher.
A recent analysis of 300 years of wartime spending shows bonds often incur real losses, underperforming stocks and real estate.