The price spikes in gold and silver are the result of irrational government intervention: central bank bureaucrats overreacting to geopolitical risk and CCP protectionist export controls. The retail demand is just return-chasers piling in. The long-term fundamentals are actually bleak: "precious" metals will gradually be demonetized by bitcoin, existing and new mining projects will get developed to increase supply for industrial users, and central banks will have to liquidate their gold to defen...