Industry Notes / Global mining: the metal map / Chapter 7 of 12 · Bar
Precious metals: record, crash, repair
Structural bulls can still draw down 20–45%
Jan peak
5627
Jun trough
3955
Aug repair
4387
Gold ~5627 in January → ~3955 in June → ~4387 in August. Central-bank bid intact—do not value miners on the peak. Silver drew down harder.
Source：现货黄金公开高点/低点/2026-08-18 附近报价
Research notes, not investment advice.