Jeffrey Currie, a prominent commodity strategist and former head of commodity research at Goldman Sachs, has recently shorted gold, expecting its price to dip to approximately $4,000 per ounce before soaring to $10,000. This bearish outlook stems from geopolitical tensions, particularly the conflict in the Middle East, which has led to rising energy prices and forced central banks, like Turkey's, to liquidate gold reserves to stabilize their currencies. Currie notes that this selling pressure could lead gold to retrace to a range of $3,750-$4,000, which he believes would attract major buyers, particularly from China. He anticipates that once the energy crisis impacts global growth, central banks will pivot to easier monetary policies, reigniting demand for gold. Currie also highlights a broader commodity supercycle, arguing that while capital has flowed into artificial intelligence, it has overlooked the physical assets essential for its infrastructure. He describes this imbalance as creating the most asymmetric trade opportunity in history, with a significant shift from hard assets in global operations to local operations.