Last week I took the other side of one of the most popular debates in the investing world. And I’ll repeat it once again - if there’s a bubble in today’s market, it’s not in stocks… it’s in GOLD.
For as long as I can remember, it’s been socially acceptable - even encouraged - to scream “bubble!” every time an asset rallies. Tech stocks, bitcoin, housing, you name it. Yet most of those bubble calls turn out to be wrong because they’re based on emotion, not evidence.
Lately, the “AI bubble” narrative has taken center stage. And sure, some AI names have sprinted too far, too fast - that’s what happens in every major technological revolution. But to call AI itself a bubble? That’s like calling the invention of the internet a fad. AI isn’t just another theme - it’s reshaping every industry on the planet.
So while everyone’s pointing fingers at AI… the real bubble is quietly forming somewhere else.
Gold.
I’ve been digging into the data - and the charts are screaming caution. One in particular shows the three major gold bull markets over the last 55 years. Two things jump out immediately:
Silver is usually the leader, and gold moves more in line with industrial metals. Not this time. Gold is crushing its peers - a huge red flag.
The speed and magnitude of this rally are parabolic - and history tells us parabolic moves always end the same way.
Trade War Profits Are Back
Breaking news: China just walked away from key U.S. trade talks —
and markets are reacting fast.
Most investors see chaos… I see opportunity.
Because history shows every tariff cycle creates massive winners —
the companies positioned on the right side of the trade war.
In my latest video, I reveal the top “Tariff War” stocks set to surge as America
doubles down on manufacturing, energy, and supply-chain independence.
Want another wild stat? Gold’s total market value is now greater than the combined value of the 10 biggest tech companies in the world. Think about that. Would you rather own a hunk of metal… or shares in the companies literally building the future of the planet?
And here’s one more: the gold-to-oil ratio - a 200-year chart - just hit its most extreme level ever. When something breaks a two-century trend, smart investors pay attention.
Now, I’m not saying gold crashes tomorrow morning. But if you’re looking for a real bubble to talk about over drinks this weekend - skip the AI talk.
The real one’s shining a little too bright.
Have a great weekend,
Matt McCall
Editor, Market Insights
