Gold and silver both reached all-time highs on January 29th before reversing sharply. This video breaks down what happened next and why the two metals have followed very different paths since then. We look at gold's steep pullback and subsequent recovery, now trading roughly 6% above its 50-day moving average. We also examine why silver has lagged behind, still sitting below that same key technical level after a much deeper drawdown of nearly 47% from its peak. Beyond the price action, we cover the fundamental factors still supporting both metals. Central bank buying continues at an aggressive pace as nations diversify reserves away from dollar-denominated assets. Silver retains its dual role as both a precious metal and an industrial commodity, with demand supported by growing electricity needs from data centers and crypto mining infrastructure. We also touch on the macro picture, including market expectations around Fed policy and the Kevin Warsh nomination.