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Gold’s move above $4,600/oz on Aug. 21, alongside high long-term Treasury yields, points to more than a routine flight to safety. The market may be separating protection from volatility from protection against sovereign balance-sheet risk. That distinction matters. Bonds can still cushion portfolios in a slowdown, while gold and BTC may gain weight when fiscal stress and monetary cred#BTC77KFlowTest #Gold4600VsBonds #SamsungPayoutUpTo80B