Seeing a bunch of hindsight analysts talking about stuff like 'aunties buying in' and 'interest rate suppression.' Aunties have been buying for ages, look at this short position, it’s been liquidated countless times already. Interest rates? Like I pointed out earlier, TIPS yield and precious metals have been disconnected for years. This rally is because China is leading the charge in buying gold and de-dollarization. Whether it’s freezing other countries’ central bank assets, trade wars, or even territorial threats to allies, all of it is undermining the dollar system and objectively fueling this trend. As for the drop, I see only one reason: major banks like JPM and HSBC holding massive short positions in precious metals. They’ve been suppressing prices for years to uphold the dollar’s status. This time, they’re using the event to unwind their massive shorts or significantly reduce their losses. Let’s check the CFTC data in five days to see the open interest.