This is how I look at $GLD, $SLV, and other commodities in this environment.
The underlying buyers are entirely different now. Gold isn't just trading on inflation headlines. Central banks are buying physical gold at a historic pace. A quick Gemini search told me they're averaging 60 tonnes a month to dump paper reserves.Silver is a hardware infrastructure story. AI data centers and solar grids require immense physical components, and $SLV is the most conductive element available. Because 70% of silver is a byproduct of mining copper ($CPER) or zinc, supply is completely rigid. Producers cannot just spin up operations to meet this tech demand spike.Watch how these hard assets test key technical support on the charts. The accumulation is there, the supply constraint is there, and the trend is very constructive. Follow the momentum.
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