What Happens When Metals Peak? Post-Inflation Deflation Leanings - As-good-as-it-gets risks for the metals in 2026 may follow cryptos' 2025 track, with broad post-inflation deflation implications. My base line for a recovery in stock-market volatility in 2026 has yet to occur, but parabolic rallies in gold and silver alongside plunging Bitcoin might be shots across the bow. Surges in gold prices and volatility are rare absent severe inflation and a similar rise in stock-market risk metrics. Historically, they often mark a shift to speculative excesses from store-of-value behavior. An easing of geopolitical tensions can be a key pressure factor for crude oil and natural gas, and potentially for stretched gold and silver. My analysis suggests the metals sector is in bull-market blow-off stage and highly dependent on a rising stock-market tide to maintain buoyancy. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tb488dkgctg7 {BI COMD} #gold #copper #metals #commodities @markets(Mike McGlone)