May's metals sell-off was a telegraphed, flow-driven event tied to options expiry. We've rotated, booking profits on energy (NatGas mean reversion) and gold. The next tactical trade is reloading longs in precious metals and copper into June. The catalyst is predictable mid-year rebalancing, not a fundamental shift. This is a seasonal setup. Follow the flows, not the narrative.
Yields
NDX
RUT
implicit
explicit
USD
natural gas sharp up
Gold & Silver Club
6.5
Market Research Firm
Phil Carr 7.0
Market Research Firm
Phil Carr 7.0
Gold; Silver; Crude Oil
5/22/2026 7:12:48 PM
metals
Metals came under pressure into options expiry and the 'sell in May and go away' timeframe; silver dropped 17%, gold broke down from 4,750 to 4,500.
| 5/14/2026 11:16:27 AM | short term cautious down | 5 days later | -0.30% | +0.15% |
| 5/11/2026 10:37:08 PM | short term sharp up | 6 days later | -6.35% | -9.52% |
| 5/11/2026 4:41:25 PM | short term sharp up | 6 days later | -6.35% | -9.52% |
| 5/8/2026 7:47:04 PM | short term sharp up | 7 days later | -6.32% | -9.47% |
| 5/8/2026 9:23:04 AM | short term sharp up | 7 days later | -6.32% | -9.47% |
| 4/24/2026 8:43:13 PM | short term up | 7 days later | -3.27% | -3.27% |
| 4/24/2026 1:00:38 PM | short term up | 7 days later | -3.27% | -3.27% |
| 9/17/2025 12:13:34 PM | short term sharp up | 5 days later | +4.00% | +6.00% |
| 9/1/2025 10:48:16 PM | short term sharp up | 6 days later | +2.26% | +3.38% |
