From memory the DJ went up during Desert Storm. Can't remember the reasons why that happened.
I first got burnt on gold futures years ago in 1980 when the Iran Iraq war started. I thought gold was going to rocket since they were bombing hell out of each others' refineries and wells etc. My thinking was another oil crisis as in 1973 leading to rampant inflation. The opposite happened; gold went into a fall as Iran and Iraq started selling thier gold to buy arms since they couldn't sell their oil.
