The following image shows,
A comparison of the movements of gold and silver during the past three bull and bear cycles.
It is very similar to the strength comparison of BTC and ETH shared earlier.

In each bull market, gold leads the way upward, with gold's gains in the early and middle phases of the bull market outpacing those of silver.
Once gold begins to stagnate and silver's upward slope steepens with consecutive surges, it often indicates that the end of the precious metals bull market has arrived.

The logic behind this is also a matter of capital preference:
In the early and middle phases of a bull market, capital prioritizes safe and liquid 'core' assets, while in the latter stages, funds withdraw to seek potential higher-yield 'satellite' assets.

The silver trend looks very strong, but it has just broken through the highs of the bull markets in 2011 and 1980. It is very similar to the ETH trend, with large fluctuations, but not much absolute growth.

Conclusion: The current precious metals market is similar to the cryptocurrency market two months ago, entering the bull tail 'short squeeze' and 'fool's game phase.'

Final reminder: The bear market adjustment for precious metals is longer than that for cryptocurrencies, starting from three years. The previous two rounds were 20 years and 9 years respectively.

#Gold #XAU