Gold, Silver Tumble Again. One Thing Is Wreaking Havoc on Precious Metals. - Barron's

The usual suspects are pointing fingers at rising yields or dollar strength, but here's what they're missing. Physical demand hasn't evaporated. Check your local coin shop - premiums are holding firm even as spot drops. This is paper market volatility driven by algorithmic selling and margin calls, not fundamental weakness in precious metals. COMEX registered inventory remains tight at historic lows. Central banks added another 800 tons in 2024. The gold-silver ratio pushed back above 64, making silver the obvious play here. These selloffs create entry points for stackers who understand the difference between price discovery and actual metal availability. Stack what you can afford during these gift dips.