Gold is surging while stocks are at all-time highs. That’s rare and worth paying attention to. ⚠️

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Historically, this combo doesn’t show confidence, it shows mispriced risk.

Gold usually rises when stress is building, not when everything is “perfect.”

What makes this more interesting:

Central banks and governments are the main buyers of gold right now, quietly reducing exposure to fiat and long-dated debt.

This doesn’t mean a crash is imminent.

It simply means risk deserves more respect at these levels.

For us, this is a moment to:

• stay selective

• manage position size

• avoid chasing tops

• keep dry powder

Remember, markets reward preparation, not panic 🙇

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