Money Flows Haven’t Even Started to Favor Gold Yet

Following the money isn’t just good journalism – it’s good for determining investment trends. And following the cumulative flows of money since 2020, gold still hasn’t caught investor interest:

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Gold has had less than 5% the capital flows of stocks over the past five years. (Source: BofA Global Research)

The gold rally to over $4,400 this year has been driven by central bank buying and a supply crunch – not retail investors’ interest.

If AI stocks are, in fact, about to crash, as Harry Dent and Adam O’Dell will be making the case for today, gold’s sitting at a 10% discount to the market high.

~ Addison

P.S. As you know, since the release of Anatomy of a Stock Market Bubble, we’ve been highlighting signs of a bubble when we see them. Tomorrow on Grey Swan Live! we’ll be joined by bestselling author Harry Dent on the cross-section between AI, shifting generational demographics, and what happens when the terrifying bull market gets even more terrifying…

We’ll go behind the scenes of Harry’s releasing his own “AI Crash” forecast with Grey Swan collaborator Adam O’Dell, which comes out this afternoon.

To get on the list to receive Harry and Adam’s research findings, click here. Don’t wait, their research comes out at 1pm today.

Feel free to send your Grey Swan Live! questions for Harry to feedback@greyswanfraternity.com.

Turn Your Images On

Gold has had less than 5% the capital flows of stocks over the past five years. (Source: BofA Global Research)

The gold rally to over $4,400 this year has been driven by central bank buying and a supply crunch – not retail investors’ interest.

If AI stocks are, in fact, about to crash, as Harry Dent and Adam O’Dell will be making the case for today, gold’s sitting at a 10% discount to the market high.

~ Addison

We’ll go behind the scenes of Harry’s releasing his own “AI Crash” forecast with Grey Swan collaborator Adam O’Dell, which comes out this afternoon.

To get on the list to receive Harry and Adam’s research findings, click here. Don’t wait, their research comes out at 1pm today.

Feel free to send your Grey Swan Live! questions for Harry to feedback@greyswanfraternity.com.

While oil and AI take the brunt of the blame for a poor February jobs report, the real biggest driver for both rising prices and slowing employment – and a compression in corporate profits – is flying under the radar…

Oil prices opened significantly higher in overnight trading, following a weekend of news about shutdowns in Saudi Arabia and the bombing of Iranian oil infrastructure.

Through the first 41 trading days of 2026, the S&P 500 traded within a 2.7% range — the narrowest start to any year since 1928. The first 41 days of 2008 spanned roughly 35%. In 2020, the range ran near 15%. Even the placid 1950s never opened this tight…

Since the Iran attack began, global markets have been chaotic. Despite some wild intraday swings this week, the U.S. stock market has held up well. When bombs go flying, capital moves from frontier markets to safer shores. And even though the U.S. has been the one to aggressively move against Iran, capital that was going to foreign markets has shifted back to New York.

Oil prices opened significantly higher in overnight trading, following a weekend of news about shutdowns in Saudi Arabia and the bombing of Iranian oil infrastructure.