u/Dependent-Dog-4976

I have a 1984 GMC K-2500 with a 350 SBC engine. While I’ve been slowly restoring the engine, a few days ago, I noticed smoke coming out from the area between the valve cover and the exhaust manifold. Do you think that is an issue valve cover gasket or exhaust manifold gasket (area in red circle)? Or something more? Thanks in advance for sharing your knowledge and experience