The precious metals sector performed poorly during the last three bear markets in stocks. Those include 2022 during initial Fed tightening, the Covid crash of spring 2020, and the heart of the global financial crisis in autumn 2008.
Investors are neglecting the 2000 through 2002 period when Gold, gold stocks, and, to a lesser degree, Silver, negatively diverged from the stock market. The big downturn in precious metals in 1975-1976 transpired after inflationary pressures subsided and the economy recovered. Gold is only two months into its most significant breakout in 50 years. This will carry Silver much higher. The outperformance from junior gold and silver stocks is just starting.
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