Gold’s Big Jump: Let’s Put Things in Perspective
A 47% increase in gold prices so far this year is certainly impressive.
And yet, in 2025 gold represents only 5% of total market assets — compared with 21% in 1980.
Equities, bonds, derivatives, crypto… the financial universe is now four times larger in 2025 than it was in 1980.
In other words, the relative share investors allocate to gold has actually declined sharply.
Isn’t it sometimes a good idea to take a look at the denominator?
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