What Happens to Gold Prices During War

War has a major impact on gold prices, as it is seen as a safe haven asset during times of uncertainty. During war, gold prices tend to increase as investors flock to the safety of gold. This is because gold is seen as a store of value and can be used to hedge against inflation or currency devaluation.

Additionally, governments often buy up large amounts of gold during war in order to protect their assets and provide financial stability for their citizens. As a result, the demand for gold increases and causes its price to rise.

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[Tom-muzy]

The better question is, "What happens to fiat currencies during war?"