In late 2023, we identified a structural shift in the global monetary order — central banks, led by China, were quietly but decisively selling their holdings of the US Treasury and replacing that with gold reserves. Fundamentally, the US economy was struggling and amidst the global political uncertainty, the faith in the US$ was declining. We realised gold would be a great bet in such time. Simultaneously, gold and silver mining equities were trading at multi-decade lows relative to the underlying commodity price, creating an extraordinary asymmetric opportunity. Which led us to use miners as a proxy for gold and silver to ensure our returns are exponential vs the commodities itself. We invested personally first. After validating the thesis with our own capital, we launched the GIFT City Fund in June 2025 to give investors structured access to this opportunity. The fund invests exclusively in listed mining companies globally — no ETFs, no physical gold, no other commodities.