Why have precious metals tumbled? - Robin J Brooks | Substack

Every analyst wants to explain the dip, but stackers know better. Gold pulled back from highs while silver's getting hammered harder - classic ratio expansion we've seen before. The fundamentals haven't changed. Central banks are still net buyers. COMEX registered inventory stays tight. Dollar strength and rate talk create temporary headwinds, but that's noise. Physical demand from Asia never stopped. When everyone's asking why metals fell, that's usually when the smart money accumulates. These corrections separate the traders from the stackers. Real wealth preservation doesn't happen on green days.