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Iranians seek portable wealth as hedge against falling currency after war with Israel
By Amir Vahdat and Jon Gambrell
Associated Press
Thursday, December 4, 2025
TEHRAN, Iran -- 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 "value-preserving assets. Those include dollars, gold, silver, diamonds, cryptocurrencies, and, to a lesser extent, equities.
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Such portable wealth can hold value when local assets depreciate -- and be easily carried in case of a crisis, something on Iranians' minds for months as many fear another war with Israel breaking out.
Mansour, a 28-year-old gold and jewelry merchant in the bazaar, said he had never seen such demand. ...
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