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This episode explores the reasons behind gold's sharp 60% surge year-to-date in 2025, pushing prices over $4,000 per ounce, and debates whether this rise is due to speculative excess or a fundamental shift in gold's role as a safe-haven asset amid global risks. Specifically, the discussion addresses a recent warning from the Bank for International Settlements (BIS) that flagged both gold and U.S. equities as entering "bubble territory," but counters this with arguments pointing to structural drivers, such as sustained ...