Inklings of Selling When They're Yelling in Gold, Metals Gold's big green annual candle at the start of 2026 has turned red, with implications for all metals. Silver's reversal from an over 60% gain in 1Q to about a 10% loss as of June 10 may add fuel to similar reversal patterns in gold and other metals, including copper. My graphic highlights a rare occurrence for what is supposed to be a store of value: gold's 180-day volatility is currently about 2.3x that of the S&P 500. Combined with gold's greatest stretch above its 10-year moving average since it could be calculated in futures in 1984, the setup may be a signal of selling when they're yelling. Buried S&P 500 volatility vs. surging risk metrics in gold, silver and crude oil looks unsustainable if history is a guide. Gold is beta to metals and may add headwinds to copper vs. 2025's tailwinds. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tgcx5kr24u9s {BI COMD} #gold #stockmarket @Bloomberg(Mike McGlone)