The recent sharp fluctuations in gold are largely due to macro policy uncertainties. In such an environment, any operation involving spot purchases at high levels faces the risk of the cycle peaking and being trapped.

The key is to understand a simple truth—every major trend will eventually come to an end, and human greed often pays the price for this.

Don’t FOMO when everyone is shouting and rushing. What seems like a money-making opportunity is actually the easiest trap to cause you to give back all your early profits. Only when the market peaks will you ask yourself why you were so easily swept up by emotions and chased the high. That kind of regret can make all past successful investments pale in comparison.

The same applies in reverse. Never completely give up when no one is paying attention and the sentiment is overwhelmingly bearish. Such times are often the best opportunities to position yourself. Many people choose to FUD and escape at this stage, only to regret not holding on when the trend picks up, missing the best entry window.