The fear trade just got spooked Gold and silver got knocked around last week as the “fear trade” ran into a new problem: fear of macro-economic fallout. Instead of acting like safe havens, both metals gave in to fears that a prolonged U.S.–Iran conflict could amplify inflation risks. The result? A narrative flip. Sure, dip buyers stepped in mid-week—but conviction never followed. This is what happens when the fear trade stops working. The metals hesitated—hard. That’s the fundamental backdrop. Now let’s get tactical: what are the levels, and what are the triggers? Three-scenario forecast: bullish, neutral, or bearish What’s going on with the spot price of gold and silver today? Either momentum returns, the “chop” continues, or downside pressure builds.…
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