The momentum trades of 2026 are breaking with gold, silver and South Korea down big

Key Points

Gold, silver and South Korea were down big Tuesday amid fears the war in Iran could go on for longer than expected.
Each of these trades were huge momentum plays in 2026, as investors nervous about their exposure to U.S. large cap tech sought out different asset classes.
Bullion getting caught up in the selling frenzy is odd for a safe haven asset usually turned to during times of crises.

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