History may rhyme, but I’m not calling a reversal yet. The extreme positioning and the spike in iShares Silver Trust $iShares Silver Trust(SLV)$ volume suggest liquidation isn’t fully done. With gold previously trading far above its long-term average, this looks more like a valuation reset than a quick dip.
I’d rather be late than wrong. I’m watching $4,000, but waiting for confirmation like a weaker dollar or Fed shift before scaling in. For now, capital preservation comes first.
$SPDR Gold Shares(GLD)$ $SPDR Gold MiniShares Trust(GLDM)$
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