Gold has been hitting one new high after another, soundly outperforming even a strong stock market.

This has led many investors to wonder…

Is gold overvalued?

Does the gold rally still have room to run?

Well, take a look at the answer below.

That’s a chart from Bank of America showing the fund managers – aka the “smart money” in charge of billions upon billions of dollars – allocations to gold.

The results are startling.

39% of them have ZERO allocation to gold.

That’s right – zero. Nada. Zilch.

The average allocation across all fund managers? A meager 2.4%.

In other words…

There’s still a torrent of “smart money” waiting to pour into gold.

This so-called “extended” gold rally?

It’s just getting started.

But the smartest move right now isn’t to just buy gold bullions or a gold ETF…

It’s to position yourself in the #1 gold play for Trump’s second term.

To your wealth,

Ross Givens