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After an extraordinary run, precious metals pause as volatility finally makes itself heard.

Precious metals have been on an absolute tear for nearly two years now, and there’s no point pretending otherwise. 

Since Gold entered a brand-new secular uptrend on March 4, 2024, this market has rewarded those who stayed with the trend...

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Gold Rush
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Energy leads as commodities enter the expansion phase

The metals market just reminded everyone why commodities are not for the faint of heart.

Today was ugly. Brutal, even. 

Gold futures closed the session down more than 11%. 

Palladium futures were off over 15%. 

...

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The yield curve warned us. CRB compressed. XLE broke out.

For months, the yield curve has been doing what it always does before big commodity and energy moves: it started whispering before price started screaming.

This wasn’t a headline trade.This wasn’t a CPI print trade.This was a...

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Jason Perz
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