Ripple Effect
Money Flows Haven’t Even Started to Favor Gold Yet
November 5, 2025 • 1 minute, 9 second read
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:
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.
