Stock Market & Gold Soar Together: Unpacking Global Uncertainty & Investor Mindsets

• Global uncertainty is at historic highs, surpassing 9/11 and 2008 crisis levels, yet stock markets and gold are both strengthening.
• Stock markets, particularly large-cap tech, are driven by an 'earnings story,' expecting strong growth in the next 12-24 months.
• Gold's rise signals investor fear and a search for safe-haven assets amidst geopolitical tensions, a weak dollar, and policy uncertainty.
• The current market rally is selective; liquidity flows into large, strong companies, while small and mid-cap stocks face pressure.
• Investors are acting with dual mindsets: betting on growth in stocks while seeking security in gold, indicating a time for caution.