Core Insights - The rise in gold and silver prices is beginning to attract attention from the general public and financial advisors, with a notable increase in gold ownership among professional investors [1][3][5] Fund Manager Exposure - In 2023, 71% of financial advisors had 0-1% exposure to gold, but recent surveys indicate a decrease in the number of fund managers with no exposure, dropping from 39% [1][5] - The average fund manager currently reports only 2.4% exposure to gold, suggesting significant room for growth in allocations [5][6] Gold ETF Holdings - U.S. physical gold ETF holdings are increasing, currently amounting to $225 billion, which is relatively small compared to major tech companies like NVIDIA [7][9] - Central banks remain the primary buyers of gold, with a notable increase in their holdings since 2022, particularly after geopolitical events involving Russia [9][12][13] Investor Demand - Investors are just beginning to emerge as a significant source of gold demand, following a trend where central banks have driven the current bull market [14][13] Market Dynamics - Gold and silver have performed well despite a bull market in stocks, typically shining after market crashes when central banks increase monetary supply [15][16] - In the event of a stock market downturn, funds may rotate from high-risk sectors into precious metals, although initial sell-offs of gold and silver can occur during panic [16][17] - Historically, after initial declines, precious metals tend to outperform major indices like the S&P 500 and Nasdaq 100 in the following years [18]