Gold and silver dropped sharply after the Persian Gulf conflict started. They usually act as safe havens, but equities, bonds, and industrial metals all sold off together. The short-term weakness seems to be from investors unwinding positions and a drop in jewelry demand due to high prices. The long-term outlook is still intact. Silver has steady industrial demand that should increase with new data centers next year. Central banks are also still buying gold to diversify away from US debt. Miners like SSR Mining (SSRM) and Hecla Mining (HL) are seeing movement from this. The general consensus is that major dips could be a buying opportunity.