The Breakout Nobody Wants - Gold vs. S&P 500 - #Gold #ETF inflows of just over three million ounces in 2025 to March 12 may suggest four years of outflows are reversing as the metal gains outperformance momentum vs. the S&P 500 (SPX). It's the most trend-ready gold/SPX ratio in three decades that I find disconcerting. Full report on Bloomberg here: https://blinks.bloomberg.com/news/stories/st2425t0g1kx {BI COMD} #commodities #metals #stockmarket #macroeconomic @BBGIntelligence