When it comes to financial security for Iran’s jittery public after the 12-day war with Israel, all that glitters is gold — and for many, it remains the most trusted hedge against inflation, sanctions and a weakening rial currency.
Traders in Tehran’s Grand Bazaar say every new headline about United Nations “snapback” sanctions, the rial’s fall or renewed regional tensions have sent waves of people into buying so-called “value-preserving assets." Those include dollars, gold, silver, diamonds, cryptocurrencies and, to a lesser extent, equities.
