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Gold has been sideways for months.
Capital clearly rotated into equities.
And when stocks eventually cool off and go sideways too —
The real question is:
Where does the money go next?
Big institutions don’t have the luxury to sit idle.
They have to rotate. They have to generate returns.
Every cycle, capital flows.
• Commodities → Equities
• Equities → Crypto
• Crypto → Risk-off
Right now:
Gold = sideways
Stocks = extended
So the next move isn’t just about what pumps…
It’s about where capital needs to go next.