RE: LeoThread 2025-09-02 16:05
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🥇 Gold is rewriting the playbook
The S&P 500 is in one of its strongest bull runs in decades, up +1,650 points in under five months. Yet gold is outshining it, delivering +37% YTD, nearly four times the return of equities.
🟡 Since 2023: gold has doubled, while the S&P gained ~67%
🟡 Correlation between gold and equities hit a record 0.91 in 2024
🟡 US deficit near $2T keeps flooding the Treasury market with supply
🟡 Bonds are losing their role as safe havens, with term premiums back to 2014 levels
🟡 Central banks now hold more gold than Treasuries for the first time since 1996
🟡 Long-term inflation expectations are creeping higher as markets doubt the Fed’s 2% target
This is a structural shift. Gold is no longer just a crisis hedge, it’s replacing Treasuries as the global reserve anchor. Central banks have already moved, retail and institutions are following.
Gold is doing it's thing, one of the best insurance policy's Fiat can buy!
Definitely
Wild to see gold and stocks moving almost in lockstep this year around a 0.91 correlation. If real yields pop again, does central bank demand fade or is this new reserve math here to stay?