The Friday Selloff: What Actually Happened Let’s start with the most important point, because this is where most people get it wrong. Gold and silver did not collapse because the story changed. They sold off because the short-term trade got crowded. As Jim Rickards laid out clearly, the drop was driven by: Hedge funds locking in huge leveraged profits Algorithmic momentum trading flipping from “buy” to “sell” Stop-loss orders cascading once prices started to fall A little panic mixed in at the end, as always That’s not a failure of gold or silver. That’s a textbook bull market correction. I’ve been around markets long enough to tell you this: when prices move straight up, the market always takes something back.…
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