You said "Gold, on the other hand (And I'm no gold bug) is a RISK ON asset."

"Risk on assets" are assets you hold when you are "risk on," meaning you want to take risk. Gold is not a "risk on asset." Stocks are.

"Risk off assets" are assets you hold when you are "risk off, " meaning you don't want to take risk. Typically bonds and gold.

If it still doesn't make sense to you, you need the type of professional help that I can't provide. 🤡🤣