After a stellar Q1 performance, Gold has been relegated to the sidelines, with Platinum and Silver taking center-stage over the past two months.
Liberation day is far behind us as US equities broke ATH last week and geopolitics proved insufficient to keep Gold thematic.
Platinum is up close to 40% since mid-May on the back of strong Chinese imports and a compelling narrative that the market happily bought after Gold started exhibiting signs of slowing.