> But bullion has done even better (particularly past month).

No wonder, people are fed up with the US administration and its constant firehose of bullshit. But there are no viable contenders to the US Dollar as reserve asset - the Eurozone is too fractured, China is under currency controls, Germany on its own outclasses India, and Japan's economy is headed for some serious BS once it follows their population age graph.

That only leaves gold... the question is, is it physical gold? (And my opinion is: as long as it's not in a vault under your control, you're buying IOUs, not gold)