New Delhi, Feb. 1 -- ARK Invest founder and CEO Cathie Wood has delivered a contrarian take on markets, arguing that gold, and not artificial intelligence (AI), is showing signs of a bubble. Her reasoning is based on historical valuation metrics, macroeconomic context, and the US dollar's trajectory.

In a social media post on X on January 30, hours before gold prices recorded their biggest intraday decline since the early 1980s amid a 12% crash to below the $5,000 level, Wood hinted that the odds of gold prices nearing a peak are rising.

According to her, a key warning signal comes from gold's market capitalisation as a percentage of the US money supply (M2), which recently hit an all-time high.

The data shows this ratio has now surpas...