In the long term, gold is like China's real estate in 2005.

In the short term, gold is like Bitcoin in 2023.

In 2023, Bitcoin has three major expectations fulfilled: expectations of a rate cut cycle, expectations of Bitcoin through ETFs, and expectations of a Bitcoin halving bull market.

At this moment in 2026, gold will have three major expectations fulfilled: expectations of a super loose monetary policy from the new chairman of the Federal Reserve, expectations of new geopolitical conflicts, and expectations of de-dollarization.