neither, just cyclical demand. 2022 to the beginning of 2025 I've just been eating shit and humbly stacking
my lowest purchase during that period is up 170% since January 2025...
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Nice! You really think just cyclical? I watch BullionVault. They release info on any withdrawals. It’s fascinating. There’s a holder with pseudonym The Doctor who’s been withdrawing physical at a level only possible with extreme pockets. Talking silver withdrawals of a ton a week sometimes with 50-200kg gold etc etc. I think scarcity and big player metals hodling going on in a big way is driving a lot of price speculation. It’s worth just checking on BV as I think it’s an interesting little signal in a very obscure market