Contrarian call. FXLeaders (July 19) has gold "clinging to $4,000" after a ~2.6% weekly drop, and community 1w sentiment is fully bearish (0 up, 2 down). But with equities in a pronounced AI/chip-led risk-off selloff, safe-haven flows should return to a heavily oversold metal (411→368 over the month), and China extended its central-bank buying to a 20th straight month. GLD's last two sessions already turned up (365→368), reclaiming footing off support. Fading a one-sided bearish crowd into an equity-fear week, I take Up.