
Gold’s Reality Check
Despite Middle East tensions, gold hasn’t delivered the classic crisis hedge rally. Dr Nico Marais explains why gold protects against monetary instability, not geopolitics – and how dollar strength, real rates, liquidity constraints and Chinese retail flows are shaping 2026’s volatile price action. A sharp, data‑anchored look at gold’s true role in modern portfolios. Best Of Kaya Biz
The skinny
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