Average Price Performance of Gold, Oil and Base Metals during Four Military Conflicts

This chart shows the average price performance of gold, oil and base metals during the following military conflicts: 1980 Iran-Iraq War, 1990 Gulf War, 2003 Iraq War, 2011 NATO-led military intervention in Libya.

Image: J.P. Morgan Commodities Research

Average Price Performance of Gold, Oil and Base Metals during Four Military Conflicts