To The Moon

💬 Gold & mining investors: Gold crashed but gold stocks held strong. Is this the classic “divergence bottom” signal? Let’s debate! $Gold - main 2606(GCmain)$ suffered a brutal collapse in March, plunging more than 13% — its worst monthly drop since the 2008 financial crisis. Yet gold stocks showed remarkable resilience: they did not sell off in lockstep, and some top miners even posted double-digit gains late in the month. Gold fell hard, but gold stocks did not. Is this just a temporary divergence… or is the market quietly shifting direction? Independent analyst Ross Norman described late-March gains as a mere “dead cat bounce,” bluntly stating it “was not a real rebound at all.” The core driver of the crash was a dramatic

💬 Gold investors: $10,000 gold — fantasy or inevitable? Where do you stand in this wild debate? Let’s hear your price target! Gold hit an all-time high of roughly **$5,600 per ounce** in January this year — more than double the level of around $2,600 at the end of 2024. As of press time, gold has pulled back to approximately $4,800 an ounce. Even so, a growing number of prominent analysts, business leaders, and investors — including Jamie Dimon, CEO of JPMorgan Chase — believe gold could nearly double again to $10,000 per ounce in the near future. Why Did Gold Surge Over the Past Two Years? $Gold - main 2606(GCmain)$ In 2022 and 2023, the Federal Reserve raised interest rates to fight inflation. This pressure strengthened the U

U. S. President Donald Trump delivered a national televised address on the evening of April 1, unilaterally claiming a "swift, decisive, and overwhelming victory" in military operations against Iran. He also stated that the U.S. will continue to heavily strike Iran over the next "two to three weeks," while negotiations with Iran are simultaneously proceeding. His remarks have utterly shattered the market's expectations that the "U.S.-Iran war" could end in the short term. Moreover, his approach of negotiating while launching military strikes strongly highlights an anxious state within the Trump administration: attempting to stabilize oil prices and inflation while being unable to conclude the war quickly, essentially being dragged down by Iran. The situation has clearly spiraled out of con

💬 Gold traders & macro investors: DXY >100, oil >$100… and gold is RISING? Is this the new inflation hedge playbook? Let’s debate! $Gold - main 2606(GCmain)$On Monday, the U.S. Dollar Index closed at 100.57 and crude oil futures climbed above $102.88 per barrel — both breaking the 100 level at the same time. By traditional trading logic, this is a double bearish signal for gold: A stronger dollar raises costs for non-U.S. buyers, while a sharp crude oil spike usually sparks fears of tighter liquidity first. Yet gold rose for five straight sessions, settling at $4,540 — up 2.84% in total. This unusual move is forcing traders to rethink gold’s pricing model. Why Did the Traditional Playbook Fail? The textbook says: Stro

This past weekend was actually the calmest in recent weeks. Markets had expected the U.S. to deploy ground forces to seize Iran’s Kharg Island, but aside from strikes on Iranian steel plants, there was little major action. Overall, it was relatively quiet compared to prior weeks. However, actions of this scale alone by the U.S. and Israel are not enough to resolve the current blockade of the strait. The real turning point will come when the strait is reopened—that’s when a fundamental shift occurs. At present, the Pentagon appears to be aiming to replicate the rapid success seen during the 1990 Gulf War, hoping to quickly resolve the blockade within one to three months. Whether that is realistic remains to be seen, and only actual deployment will provide answers. But if even U.S. ground fo

Technical Analysis:$Gold - main 2606(GCmain)$ On the H4 chart, the short-term trend shows a rebound and correction structure, with prices gradually rising along short-term moving averages, but lacking strong breakout momentum. The MACD oscillates repeatedly around the zero line, indicating a clear divergence between bulls and bears; the RSI is in the 50-60 range, reflecting a slightly bullish but weak market. If the price fails to effectively break through the $4800 resistance, it may fall back to test the $4500 support. A break below this level could trigger further declines; conversely, a break above key resistance with fundamental support would confirm a trend reversal. In summary, the current gold technical structure exhibi

First, let's take a step back: why did precious metals suddenly plunge? most people in the market see three main explanations for the sharp drop in gold and silver: Logic 1: Global central banks have turned more hawkish, and higher interest rates effectively raise the cost of holding precious metals. Logic 2: The Middle East conflict has created an oil shortage, and energy has replaced precious metals as the “hard currency” of choice. Logic 3: Gold and silver were heavily crowded trades, and profittaking on stretched long positions has triggered a selling spiral. But I’m not really convinced by any of the three explanations above I broke these three arguments down in detail and leaned more toward a different interpretation: gold and silver are being sold as assets to raise cash, wh

1. US Equities Outlook $Invesco QQQ(QQQ)$ $NASDAQ(.IXIC)$ $E-mini Nasdaq 100 - main 2606(NQmain)$ $Micro E-Mini Nasdaq 100 - main 2606(MNQmain)$ $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2606(ESmain)$ $Micro E-mini S&P 500 - main 2606(MESmain)$I undoubtedly remain bearish on the current trajectory of US equity indices. However, for those holding naked short positions or buying the VIX on dips,

💬 Gold investors: Are you buying this dip? Do you think the worst of the selloff is over? Let’s hear your take! $Gold - main 2606(GCmain)$After an unusually concentrated selloff in years, international spot gold has staged a key stabilization and rebound. Aggressive dip-buying inflows have strongly supported the market, successfully defending a historic three-year bull run. Gold’s short-term correction has been sharp. Data shows gold plunged 15% so far this month. From its January closing high through last Thursday’s trading session, prices retreated 19% — nearing the 20% threshold that defines a technical bear market — putting bullish sentiment to a severe test. Meanwhile, escalating geopolitical tensions involving Iran and ri

$Gold - main 2606(GCmain)$On Monday (March 30), gold rose slightly for the second consecutive trading day, gaining about 0.36% to close near $4,510 per ounce, after briefly touching $4,580 during the session; US gold futures also rose 0.7%, settling at $4,557.50. However, despite a slight recovery in short-term safe-haven demand, gold has fallen more than 14% so far in March, poised to record its worst monthly performance since the 2008 financial crisis. Behind this unusual trend lies a complex interplay of escalating conflict in the Middle East and macroeconomic pressures. The war has pushed up oil prices and exacerbated inflation concerns, while the Federal Reserve's cautious stance has led to a sharp adjustment in market exp

$Gold - main 2606(GCmain)$$XAU/USD(XAUUSD.FOREX)$On Monday (March 30) in early Asian trading, the US dollar index continued its upward trend, rising as much as 0.17% to 100.33, a new high since March 16 and marking its fifth consecutive day of gains. Spot gold rose and then fell back, initially reaching $4514.42 per ounce before retreating to around $4450 per ounce, a drop of nearly 1%. Although safe-haven buying provided some support for gold prices, the escalating conflict in the Middle East and the continued rise in international oil prices, with US crude oil jumping more than 3% to a three-week high of $103.38 per barrel, exacerbated inflation concerns and d

Hello everyone. Under normal circumstances, with a war still going on, gold should be benefiting from its safe-haven appeal, so why has the price collapsed instead? What does this selloff tell us about trading gold and equity indices, and are there similar periods in history that we can use as reference points? Today, Mr. Gan will go through all of this in the livestream. Below are some notes I put together. The Gulf states have fallen into a strange trap: oil prices are rising, but their income is falling because they cannot sell enough crude. Why? Because of the Strait blockade.  $WTI原油主连 2605(CLmain)$ $美国原油ETF(USO)$ $小原油主连 2605(QMmain)$

💬 Gold Investors: Is this massive ETF selloff a buying opportunity? Do you still trust gold’s long-term hedge value? While conflicts in the Middle East rage on, the gold market has witnessed an unusual “capital exodus.” According to Bloomberg Intelligence data, as of March 26, approximately 100 commodity ETFs across the U.S. have recorded net outflows of around $11 billion — the largest single-month redemption since records began in 2005. Among them, gold funds led by $SPDR Gold ETF(GLD)$ suffered the most severe outflows, with over $7 billion exiting a single product. Silver ETFs also saw roughly $1.4 billion in redemptions. Against the backdrop of escalating geopolitical conflicts — which should stoke safe-haven sentiment — gold E

Hello everyone! Today i want to share some macro analysis with you! $XAU/USD(XAUUSD.FOREX)$$Gold - main 2604(GCmain)$On Monday (March 23), international gold prices rebounded strongly after a sharp sell-off overnight, exhibiting a dramatic "V"-shaped recovery during the session. US President Trump initially threatened to strike Iranian power infrastructure if Iran did not reopen the Strait of Hormuz within 48 hours, a statement that triggered a nearly 9% overnight plunge in gold prices. However, Trump later stated that the US was engaged in "productive" communication with Iran and would postpone any potential strikes, prompting gold prices to quickly recover mos

Remember at the beginning of the year, numerous reports projected that the Federal Reserve would cut interest rates four times. However, following the surge in oil prices, the market has swung from one extreme to another. Today, hardly anyone dares to anticipate any rate cuts this year. In fact, working backward from the latest U.S. Treasury yield data, the market has even begun to price in potential rate hikes starting in October. This dramatic shift—going from extreme euphoria to sheer panic in just two to three weeks—clearly demonstrates that market trends are currently driven by future sentiment and expectations rather than genuine, medium-to-long-term fundamental changes. Investors must deeply understand this reality. Predictably, if the strait blockade eventually concludes and rate c

$Gold - main 2604(GCmain)$ is currently facing a typical but extremely brutal combination of macroeconomic shocks: a stronger dollar, rising US Treasury yields, and a rapid reassessment of global market expectations regarding interest rate paths following the Middle East wars that pushed up oil prices. This confluence of factors has turned gold, which should have benefited from the geopolitical crisis, into a target of continuous selling. As the Middle East war enters its fourth week, with the US and Iran continuing to threaten to expand their attacks, gold prices fluctuated wildly at the beginning of the week. After experiencing its worst weekly drop in over 40 years, spot gold fell to a new low since early January at $4319.32

💬 Hot Market Talk: Are you cutting losses on precious metals or buying the dip? What’s your next move for gold and silver? Global precious metals markets suffered a “Black Thursday” meltdown, as gold and silver prices crashed sharply, both hitting six-week lows. Escalating geopolitical conflicts in the Middle East sent energy prices soaring, stoking renewed inflation fears and rapidly cooling market expectations for major central bank policy easing — dimming the safe-haven appeal of precious metals.$Gold - main 2604(GCmain)$ Spot gold tumbled as much as 6% during the session, testing the key psychological level of $4,500, marking its lowest level since the sharp sell-off in late January. Gold has now closed lower for seven cons

💬 Let’s Chime In: Did you expect gold to rally on Fed pause? Share your thoughts on the “hawkish words, dovish moves” and gold’s next move! On Wednesday, the Federal Reserve announced it would keep the federal funds rate unchanged in the 3.5%-3.75% range, in line with market expectations. This marks the second time the Fed has hit the pause button after three consecutive rate cuts at the end of 2025. What truly sparked market interpretation was the simultaneous release of the interest rate dot plot — this quarterly summary of economic projections showed that the median forecast by Fed officials for the interest rate at the end of 2026 is 3.4%, meaning there will be at least one more 25-basis-point rate cut this year. Meanwhile, interest rate expectations for 2027 and 2028 have also continu

$Gold - main 2604(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Analysis: Gold remains generally biased towards an upward trend. The 100-day Simple Moving Average (SMA) at $4577 forms a key support level; short-term support lies around $4633. A decisive break below this level could open the door for a test of $4200. The Relative Strength Index (RSI) shows a clear increase in selling momentum, potentially indicating further downside for gold. If gold closes below the 100-day moving average on the daily chart, watch for a test of $4500. A break below this level would target the February 2nd low of $4402, followed by $4200. Further downside would see the 200-day moving average at $4060/oz. Conversely, if gold

Hey gold investors! 🚨 Don’t be fooled by the recent drop in gold prices — the big run for gold stocks is just getting started. A rare divergence is playing out right now, and the smart money is already positioning for the next leg up. Let’s dive into why this could be the early stage of a massive gold stock bull market! $Gold - main 2604(GCmain)$has closed lower for two straight weeks, yet safe-haven demand has not faded. A rare divergence is unfolding: gold prices are under pressure, but mining stocks are quietly building momentum. Some fund managers are stating plainly that the real move in gold stocks has not even started. Last week, gold prices fell nearly 3%, marking a second weekly loss. Although the metal barely held the

💬 Gold & mining investors: Gold crashed but gold stocks held strong. Is this the classic “divergence bottom” signal? Let’s debate! $Gold - main 2606(GCmain)$ suffered a brutal collapse in March, plunging more than 13% — its worst monthly drop since the 2008 financial crisis. Yet gold stocks showed remarkable resilience: they did not sell off in lockstep, and some top miners even posted double-digit gains late in the month. Gold fell hard, but gold stocks did not. Is this just a temporary divergence… or is the market quietly shifting direction? Independent analyst Ross Norman described late-March gains as a mere “dead cat bounce,” bluntly stating it “was not a real rebound at all.” The core driver of the crash was a dramatic

💬 Gold investors: $10,000 gold — fantasy or inevitable? Where do you stand in this wild debate? Let’s hear your price target! Gold hit an all-time high of roughly **$5,600 per ounce** in January this year — more than double the level of around $2,600 at the end of 2024. As of press time, gold has pulled back to approximately $4,800 an ounce. Even so, a growing number of prominent analysts, business leaders, and investors — including Jamie Dimon, CEO of JPMorgan Chase — believe gold could nearly double again to $10,000 per ounce in the near future. Why Did Gold Surge Over the Past Two Years? $Gold - main 2606(GCmain)$ In 2022 and 2023, the Federal Reserve raised interest rates to fight inflation. This pressure strengthened the U

U. S. President Donald Trump delivered a national televised address on the evening of April 1, unilaterally claiming a "swift, decisive, and overwhelming victory" in military operations against Iran. He also stated that the U.S. will continue to heavily strike Iran over the next "two to three weeks," while negotiations with Iran are simultaneously proceeding. His remarks have utterly shattered the market's expectations that the "U.S.-Iran war" could end in the short term. Moreover, his approach of negotiating while launching military strikes strongly highlights an anxious state within the Trump administration: attempting to stabilize oil prices and inflation while being unable to conclude the war quickly, essentially being dragged down by Iran. The situation has clearly spiraled out of con

💬 Gold traders & macro investors: DXY >100, oil >$100… and gold is RISING? Is this the new inflation hedge playbook? Let’s debate! $Gold - main 2606(GCmain)$On Monday, the U.S. Dollar Index closed at 100.57 and crude oil futures climbed above $102.88 per barrel — both breaking the 100 level at the same time. By traditional trading logic, this is a double bearish signal for gold: A stronger dollar raises costs for non-U.S. buyers, while a sharp crude oil spike usually sparks fears of tighter liquidity first. Yet gold rose for five straight sessions, settling at $4,540 — up 2.84% in total. This unusual move is forcing traders to rethink gold’s pricing model. Why Did the Traditional Playbook Fail? The textbook says: Stro

This past weekend was actually the calmest in recent weeks. Markets had expected the U.S. to deploy ground forces to seize Iran’s Kharg Island, but aside from strikes on Iranian steel plants, there was little major action. Overall, it was relatively quiet compared to prior weeks. However, actions of this scale alone by the U.S. and Israel are not enough to resolve the current blockade of the strait. The real turning point will come when the strait is reopened—that’s when a fundamental shift occurs. At present, the Pentagon appears to be aiming to replicate the rapid success seen during the 1990 Gulf War, hoping to quickly resolve the blockade within one to three months. Whether that is realistic remains to be seen, and only actual deployment will provide answers. But if even U.S. ground fo

1. US Equities Outlook $Invesco QQQ(QQQ)$ $NASDAQ(.IXIC)$ $E-mini Nasdaq 100 - main 2606(NQmain)$ $Micro E-Mini Nasdaq 100 - main 2606(MNQmain)$ $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2606(ESmain)$ $Micro E-mini S&P 500 - main 2606(MESmain)$I undoubtedly remain bearish on the current trajectory of US equity indices. However, for those holding naked short positions or buying the VIX on dips,

First, let's take a step back: why did precious metals suddenly plunge? most people in the market see three main explanations for the sharp drop in gold and silver: Logic 1: Global central banks have turned more hawkish, and higher interest rates effectively raise the cost of holding precious metals. Logic 2: The Middle East conflict has created an oil shortage, and energy has replaced precious metals as the “hard currency” of choice. Logic 3: Gold and silver were heavily crowded trades, and profittaking on stretched long positions has triggered a selling spiral. But I’m not really convinced by any of the three explanations above I broke these three arguments down in detail and leaned more toward a different interpretation: gold and silver are being sold as assets to raise cash, wh

Technical Analysis:$Gold - main 2606(GCmain)$ On the H4 chart, the short-term trend shows a rebound and correction structure, with prices gradually rising along short-term moving averages, but lacking strong breakout momentum. The MACD oscillates repeatedly around the zero line, indicating a clear divergence between bulls and bears; the RSI is in the 50-60 range, reflecting a slightly bullish but weak market. If the price fails to effectively break through the $4800 resistance, it may fall back to test the $4500 support. A break below this level could trigger further declines; conversely, a break above key resistance with fundamental support would confirm a trend reversal. In summary, the current gold technical structure exhibi

💬 Gold investors: Are you buying this dip? Do you think the worst of the selloff is over? Let’s hear your take! $Gold - main 2606(GCmain)$After an unusually concentrated selloff in years, international spot gold has staged a key stabilization and rebound. Aggressive dip-buying inflows have strongly supported the market, successfully defending a historic three-year bull run. Gold’s short-term correction has been sharp. Data shows gold plunged 15% so far this month. From its January closing high through last Thursday’s trading session, prices retreated 19% — nearing the 20% threshold that defines a technical bear market — putting bullish sentiment to a severe test. Meanwhile, escalating geopolitical tensions involving Iran and ri

$Gold - main 2606(GCmain)$On Monday (March 30), gold rose slightly for the second consecutive trading day, gaining about 0.36% to close near $4,510 per ounce, after briefly touching $4,580 during the session; US gold futures also rose 0.7%, settling at $4,557.50. However, despite a slight recovery in short-term safe-haven demand, gold has fallen more than 14% so far in March, poised to record its worst monthly performance since the 2008 financial crisis. Behind this unusual trend lies a complex interplay of escalating conflict in the Middle East and macroeconomic pressures. The war has pushed up oil prices and exacerbated inflation concerns, while the Federal Reserve's cautious stance has led to a sharp adjustment in market exp

Hello everyone. Under normal circumstances, with a war still going on, gold should be benefiting from its safe-haven appeal, so why has the price collapsed instead? What does this selloff tell us about trading gold and equity indices, and are there similar periods in history that we can use as reference points? Today, Mr. Gan will go through all of this in the livestream. Below are some notes I put together. The Gulf states have fallen into a strange trap: oil prices are rising, but their income is falling because they cannot sell enough crude. Why? Because of the Strait blockade.  $WTI原油主连 2605(CLmain)$ $美国原油ETF(USO)$ $小原油主连 2605(QMmain)$

💬 Gold Investors: Is this massive ETF selloff a buying opportunity? Do you still trust gold’s long-term hedge value? While conflicts in the Middle East rage on, the gold market has witnessed an unusual “capital exodus.” According to Bloomberg Intelligence data, as of March 26, approximately 100 commodity ETFs across the U.S. have recorded net outflows of around $11 billion — the largest single-month redemption since records began in 2005. Among them, gold funds led by $SPDR Gold ETF(GLD)$ suffered the most severe outflows, with over $7 billion exiting a single product. Silver ETFs also saw roughly $1.4 billion in redemptions. Against the backdrop of escalating geopolitical conflicts — which should stoke safe-haven sentiment — gold E

Remember at the beginning of the year, numerous reports projected that the Federal Reserve would cut interest rates four times. However, following the surge in oil prices, the market has swung from one extreme to another. Today, hardly anyone dares to anticipate any rate cuts this year. In fact, working backward from the latest U.S. Treasury yield data, the market has even begun to price in potential rate hikes starting in October. This dramatic shift—going from extreme euphoria to sheer panic in just two to three weeks—clearly demonstrates that market trends are currently driven by future sentiment and expectations rather than genuine, medium-to-long-term fundamental changes. Investors must deeply understand this reality. Predictably, if the strait blockade eventually concludes and rate c

$Gold - main 2604(GCmain)$ is currently facing a typical but extremely brutal combination of macroeconomic shocks: a stronger dollar, rising US Treasury yields, and a rapid reassessment of global market expectations regarding interest rate paths following the Middle East wars that pushed up oil prices. This confluence of factors has turned gold, which should have benefited from the geopolitical crisis, into a target of continuous selling. As the Middle East war enters its fourth week, with the US and Iran continuing to threaten to expand their attacks, gold prices fluctuated wildly at the beginning of the week. After experiencing its worst weekly drop in over 40 years, spot gold fell to a new low since early January at $4319.32

$Gold - main 2606(GCmain)$$XAU/USD(XAUUSD.FOREX)$On Monday (March 30) in early Asian trading, the US dollar index continued its upward trend, rising as much as 0.17% to 100.33, a new high since March 16 and marking its fifth consecutive day of gains. Spot gold rose and then fell back, initially reaching $4514.42 per ounce before retreating to around $4450 per ounce, a drop of nearly 1%. Although safe-haven buying provided some support for gold prices, the escalating conflict in the Middle East and the continued rise in international oil prices, with US crude oil jumping more than 3% to a three-week high of $103.38 per barrel, exacerbated inflation concerns and d

💬 Hot Market Talk: Are you cutting losses on precious metals or buying the dip? What’s your next move for gold and silver? Global precious metals markets suffered a “Black Thursday” meltdown, as gold and silver prices crashed sharply, both hitting six-week lows. Escalating geopolitical conflicts in the Middle East sent energy prices soaring, stoking renewed inflation fears and rapidly cooling market expectations for major central bank policy easing — dimming the safe-haven appeal of precious metals.$Gold - main 2604(GCmain)$ Spot gold tumbled as much as 6% during the session, testing the key psychological level of $4,500, marking its lowest level since the sharp sell-off in late January. Gold has now closed lower for seven cons

💬 Let’s Chime In: Did you expect gold to rally on Fed pause? Share your thoughts on the “hawkish words, dovish moves” and gold’s next move! On Wednesday, the Federal Reserve announced it would keep the federal funds rate unchanged in the 3.5%-3.75% range, in line with market expectations. This marks the second time the Fed has hit the pause button after three consecutive rate cuts at the end of 2025. What truly sparked market interpretation was the simultaneous release of the interest rate dot plot — this quarterly summary of economic projections showed that the median forecast by Fed officials for the interest rate at the end of 2026 is 3.4%, meaning there will be at least one more 25-basis-point rate cut this year. Meanwhile, interest rate expectations for 2027 and 2028 have also continu

If you want to trade futures, then CFTC data is something you really shouldn’t ignore. The CFTC is the U.S. Commodity Futures Trading Commission, which you can think of as the regulator of the U.S. futures market. Every week, it publishes large-trader positioning data that tells you which side the big money is on.​ So today, let’s go through the latest set of CFTC data.​ Before we begin, let me briefly explain what CFTC data actually is. The CFTC report tracks positions in futures contracts, and these are divided into reportable positions and non-reportable positions. Reportable positions are further split into commercial and non-commercial positions. You can think of commercial positions as those held by industrial capital, such as mines, smelters, manufacturers, and other business entiti

$Gold - main 2604(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Analysis: Gold remains generally biased towards an upward trend. The 100-day Simple Moving Average (SMA) at $4577 forms a key support level; short-term support lies around $4633. A decisive break below this level could open the door for a test of $4200. The Relative Strength Index (RSI) shows a clear increase in selling momentum, potentially indicating further downside for gold. If gold closes below the 100-day moving average on the daily chart, watch for a test of $4500. A break below this level would target the February 2nd low of $4402, followed by $4200. Further downside would see the 200-day moving average at $4060/oz. Conversely, if gold

Hey gold investors! 🚨 Don’t be fooled by the recent drop in gold prices — the big run for gold stocks is just getting started. A rare divergence is playing out right now, and the smart money is already positioning for the next leg up. Let’s dive into why this could be the early stage of a massive gold stock bull market! $Gold - main 2604(GCmain)$has closed lower for two straight weeks, yet safe-haven demand has not faded. A rare divergence is unfolding: gold prices are under pressure, but mining stocks are quietly building momentum. Some fund managers are stating plainly that the real move in gold stocks has not even started. Last week, gold prices fell nearly 3%, marking a second weekly loss. Although the metal barely held the