In macro, gold isn’t just a hedge — it’s a signal. It tells you what investors fear, how they perceive central banks, and where capital might be hiding. Unlike equity markets or even the dollar, gold moves on trust: trust in fiat, trust in the Fed, and trust in policy stability. When that trust wobbles, gold reacts.

This makes gold one of the most sensitive instruments for reading regime shifts — especially when paired with real yields, inflation expectations, and liquidity flows.