Billionaire David Einhorn thinks gold is well on its way to becoming the world's ultimate reserve asset. The Green Light Capital founder said he believed the metal had already begun to replace US Treasurys as the top reserve asset among the world's central banks, attesting to its safe-haven status and shakier confidence in the US macro and fiscal outlook.

One message came out loud and clear after the latest Federal Reserve meeting: Investors will have to wait longer for any interest rate cuts this year.

It has been a week of geopolitical uncertainty and policy whiplash. Stocks and bonds regained ground, the US dollar sank and gold posted its best week since 2020.