After a sharp rise, do gold and silver corrections indicate a top? Let's start with silver. The first decline in silver in 1980 took 2 months, with a drop of 76%; in 2011, the first decline dropped 35% within ten days; the 2026 first decline was even more severe, falling nearly 47% in less than 8 days. Although industrial demand supported it, this level of decline suggests that speculative activity is more dominant at present. So, whether gold and silver will reach new highs, I lean more towards gold possibly doing so, but silver is unlikely to hit new highs.

Although the historical sample size is small, if we look at the more comparable macro situation of 2011, then within 4 months, a rebound of 61.8% of the decline—around the London silver price of 100—could be a potential exit point, not a signal to add positions.