Narratives around gold and silver.

Narratives I accept about factors driving gold & silver prices (updated):
1. Physical demand
2. Physical supply
3. Current viability of paper price suppression

Narratives I don’t currently accept:
4. Fiat currency collapse
5. Hyperinflation
6. Impending economic doomsday https://t.co/skE6Meos3M

— Ryan Orry Lang (@orryano) February 19, 2026

Narratives I accept about why silver prices are up:
1. High physical demand
2. Low supply
3. Paper price suppression not working because of 1 and 2

Narratives I don’t currently accept:
4. Fiat currency collapse
5. Hyperinflation
6. Impending economic doomsday

— Ryan Orry Lang (@orryano) January 19, 2026