The most expensive thing for humans is not gold.


It is the US dollar.
Over the past month.
Many people have been discussing war.
Discussing the World Cup.
Discussing AI.
But what truly changes global asset pricing
is the US dollar.
The US dollar index has reached a 13-month high.
The yen has fallen to around 161.
Gold has fallen below $4,000.
Brent crude oil has fallen to around $73.
Few people realize
that the dollar's rise
means everyone in the world is getting poorer,
including the United States itself.
Because the dollar is rising too fast,
it will cause all risk assets to be revalued.
GLDX-3.03%
PAXG-2.45%
XAU-2.42%
BZ-3.91%
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