Honestly, this should make gold bugs uncomfortable. We just watched a real stress test, and gold failed it. This is supposed to be gold’s moment. Instead, gold went from roughly $5,600/oz at the late-January high to about $4,354/oz by today. that’s about $7.3 TRILLION erased. A "safe haven" that breaks when the world gets more dangerous is not as safe as advertised. I’ve studied this long enough to know the difference between a story people repeat and an asset that actually survives pressure. Gold still has history. But history didn’t save it from getting wrecked when the market finally mattered. Where are the gold bugs?