Gold surges to new all-time-high; overtakes Magnificent 7 as most crowded trade

Gold has soared to successive all-time highs this year.

At the time of writing, gold is trading at US$3,433, after surging more than 30% for the year to date. Gold has significantly outperformed the S&P/ASX200 Index (ASX: XJO), which is down more than 5% for the year…