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Is the decline in US stocks good or bad for gold?
Stock price decline = dollar depreciation. The original 1 USD for 1 kg of gold can only buy 0.5 kg of gold, which means that the original $65,438 +0 kg of gold = 1 USD, and now $65,438 +0 kg of gold =2 USD. Gold is denominated in dollars.

So the appreciation of gold is of course bullish.