Let me explain

Why gold surges during wartime

First, the conclusion
This is not about emotions
But about structure

First layer of reason
Gold is the ultimate credit asset within the war economy

In any extreme situation
Fiat currency can become invalid
Bonds can default
Foreign exchange can be frozen
But gold
Does not depend on any country's credit

Historically
As soon as a state of war begins
The first thing central banks do
Is not to sell gold
But to lock gold

Second layer of reason
Gold in the military-industrial complex
Is not just decoration

It is widely used in
High-precision electronic components
Radar systems
Guidance systems
Communication systems

The reason is simple
Stable, non-oxidizing, highly conductive

When military production capacity is rapidly increased
The demand for high-purity precious metals
Will rise in tandem

This is not a myth
But a long-standing industry fact

Third layer of reason
The financial attribute of gold

Gold is essentially
A stateless asset

When war risks increase
Capital is not seeking returns
But
Risk avoidance

So funds will simultaneously do three things
Sell high-risk assets
Reduce holdings of credit-based assets
Buy gold

Therefore, what you see
Is not gold rising
But the credit of other assets being devalued

$XAUT