Precious metals price declines stem from retail pile-in, safe haven and debasement trades remain intact – Brookings’ Brooks - KITCO

Classic institutional narrative. When prices run up, it's smart money. When they correct, blame retail speculators. Brooks misses the bigger picture here. Central banks added another 800 tons in 2024. COMEX registered gold sits at multi-year lows. The debasement trade isn't just intact - it's accelerating with every Treasury auction. Sure, some retail money got shaken out on this pullback. That's normal profit-taking after a monster run. But the structural drivers haven't changed. Currency debasement continues. Geopolitical tensions persist. Physical demand from Asia remains strong. This dip is textbook consolidation before the next leg higher. Smart stackers use these corrections to add weight.