Market Trends & Investment Opportunities - The current gold rally, while significant, is still small compared to the rally in the late seventies and early eighties [1] - The fundamental reasons for the gold bull market remain intact, despite potential volatility and pullbacks [2] - Emerging market central banks initiated the rally by diversifying away from dollar assets due to concerns about asset seizures [3] - Retail traders in Asia are increasingly buying gold, with Europe and the US also participating [4] Risk Management & Portfolio Strategy - Gold serves as a tail hedge, performing best during extreme inflation and deflation scenarios [5] - Gold is not necessarily an overall inflation hedge for moderate inflation environments [6] - Bitcoin remains untested as a reliable insurance against crises compared to gold's historical performance [7] Pricing & Valuation - Gold price is well over $4,300 per troy ounce [3]