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ItMightExplode.

2026-04-26 00:09:17

2016-2020 Cycle: The high ratios during this period were mainly driven by supply-side shocks in the crude oil market and demand crashes leading to a sharp decline in oil prices.

2025-2026 Cycle: This round of high ratios is primarily driven by gold's financial attributes, with gold prices continuing to strengthen under the backdrop of global macroeconomic and monetary policy conditions.

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