Few assets capture market emotion as vividly as gold. It represents both refuge and risk: a hedge when confidence falters and a burden when optimism returns. This year, gold has again proven its dual identity. After surging above USD $4,000 per ounce in early October, the highest level on record, the metal stock reflects global uncertainty. Investors are still debating whether inflation is truly subdued or merely dormant, weighing the value of its confidence or oversubscription. Much of gold’s performance this year has been dictated by the Federal Reserve’s path. Expectations of policy easing earlier in 2025 ignited ... (full story)