---
title: "Dollar volatility exceeds U.S. stocks, gold prices approach the 4000 mark, and the \"dollar depreciation trade\" is in full swing"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/260216601.md"
description: "In the past month, the volatility of the US dollar has been greater than that of the S&P 500 index. As Goldman Sachs' Brian Garrett pointed out, this has happened twice in the past 7 years (December 2023 and July 2025). \"Going long on gold\" ... \"Going long on Bitcoin\" ... \"Going long on stocks\" ... are everyone's favorite trading lists; but as Garrett emphasized, these all seem to equate to \"shorting the dollar.\""
datetime: "2025-10-08T00:10:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/260216601.md)
  - [en](https://longbridge.com/en/news/260216601.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/260216601.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/260216601.md) | [English](https://longbridge.com/en/news/260216601.md)


# Dollar volatility exceeds U.S. stocks, gold prices approach the 4000 mark, and the "dollar depreciation trade" is in full swing

In the past month, the volatility of the US dollar has been greater than that of the S&P 500 index. As Goldman Sachs' Brian Garrett pointed out, this has occurred twice in the past 7 years (December 2023 and July 2025).

"Long on gold" ... "Long on Bitcoin" ... "Long on stocks" ... is everyone's favorite trading checklist; but as Garrett emphasized, these all seem to equate to "shorting the dollar."

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