Gold May Have an Up-Too-Much Problem Subdued stock-market volatility is typically unsustainable alongside high-velocity gold rallies. My graphic highlights key reasons we expect 2026 to favor the tactically oriented: gold's greatest premium to its 10-year moving average since 1980 at the end of 2025 while S&P 500 (SPX) 180-day volatility hovers close to its lowest year-end since 2017. T Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tdfg29kijhdo {BI COMD} #gold #stockmarket @BBGIntelligence(Mike McGlone)