When Insurance Meets Scarcity: The Gold and Silver Rally Has Two Engines
Gold is starting to feel like “insurance” again, and not in a dramatic way—more like a quiet reset in how people are positioning. When yields ease and the market starts daydreaming about rate cuts later in the year, holding gold stops looking like a sacrifice. Then a geopolitical headline hits, and you see that reflexive bid show up almost immediately. The interesting part is what happens around it: crypto often moves in the same weather system. Sometimes Bitcoin gets treated as an alternative hedge, sometimes it trades like a high-beta risk asset, and the context matters more than the narrative. The other engine is simpler: scarcity and steady official demand. Central banks stayed active in 2025, and that kind of buying changes the floor under gold. Silver has its own tension too, with deficits still expected into 2026. If traditional hedges are back in focus, what role do you actually want crypto to play?
