Tianfeng Securities Keeps Bearish Gold, Silver Calls as Correction Pressure Persists

Tianfeng's models are doing the work here: the call is a timing signal, not a macro thesis, and the divergence it flags — silver's midweek bounce failing into a Friday selloff while gold barely lifted — says the two metals are not trading as one trade. The dollar and Treasury yields are the transmission channel, which puts the focus on whether that rate-hike expectation holds rather than on metals-specific flows. Whether silver's sharper downside continues to outpace gold is the open question.