The decline in indices and gold/silver is synchronized, both starting to fall on May 10 and dropping until June 25. It was driven by the capital absorption of AI super-cycle stocks such as Micron/SanDisk/Intel/AMD/Corning, etc. Now that AI stocks have peaked and are pulling back, indices/gold/silver/etc. are taking a breather and starting to recover.

GLDX1.24%
PAXG1.19%
XAU1.23%
XAG1.93%
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