Mina Krishnan 5.0 1 idea

Speaker explicitly downgraded gold view to neutral; central bank demand story remains ongoing, but correlations with other asset classes have shifted, and old drivers like real yields and the U.S. dollar are reasserting. In a multi-asset portfolio, the shift in correlations and reassertion of traditional drivers makes it prudent to pause on the previously bullish view for gold. Direction NEUTRAL because the thesis for higher gold is on hold, requiring a wait-and-see approach due to changed market dynamics. If central bank demand accelerates significantly or geopolitical tensions escalate further, gold could resume its upward trend.