Gold's Stair-Step Rally: 4,000 vs. 100,000 Bitcoin - If S&P 500 90-day volatility holds at the Nov. 7 level of 10.5%, it would be the lowest year-end since 2019 -- a potential headwind for gold. The ancient store of value's parabolic rise in 2025 might be signaling the improbability of stock-market complacency persisting at historical extremes. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t5ic68gpwcg6 {BI COMD} #gold #stockmarket #macroeconomics @BBGIntelligence(Mike McGlone)