In this appearance on the And We Know show, Dr. Kirk Elliott unpacks why gold and silver paused even as the conflict with Iran wound down. He points to new Federal Reserve chair Kevin Warsh's hawkish first speech, which signaled concern about persistent inflation and little appetite to cut rates, as the near-term reason the metals markets hesitated. Elliott argues that investors are over-focused on the interest-rate story and underweighting inflation and basic supply and demand, which he sees as the more durable drivers for precious metals. He also highlights signs that the Fed may be stepping back from propping up markets, and why a narrow, AI-driven stock rally could be vulnerable if that support fades. Rather than reacting to short-term volatility, he frames the current pullback as a long-term opportunity for patient investors, and encourages viewers to schedule a consultation with the KEPM team to talk through their strategy.