Markets move in cycles. Periods of easy trading are followed by periods of difficult trading and vice versa. Unfortunately most impatient traders expect the good times to roll forever and the bad times to never stop. But that of course never happens. The world is constantly changing and markets are no different. After a very difficult bear market metals transitioned into a very profitable baby bull. Most traders missed it or missed most of it because the bear had conditioned people to expect only bad things from precious metals.
Once everyone had recognized the baby bull it became time for more difficulties. Now again most people have become convinced that metals are never going to amount to anything. But after hard times come good times and I think the metals are about to leave many at the station again just like they did during the baby bull.
We just need to get through a final whipsawing stage as we wait for the Fed to raise rates again at the June meeting.