【Important Analysis】The "Three-Step" Script for Gold:



1. Before the crisis: Smart money hedges risk, institutions allocate gold in advance, and gold prices rise ahead of risk assets.
2. During the crisis: Liquidity dries up, institutions sell off gold to cover margins.
3. After the crisis: Central banks flood the market with liquidity, inflation rises, and gold prices experience a V-shaped reversal and epic surge.

⭐️Verification: 2008, as shown in Figure 1.
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