The Monthly Review: N.02 2026

In the February 2026 issue of The Monthly Review by Frame Asset Management, Michele De Michelis examines the sharp volatility in gold and silver, driven by a sudden wave of enthusiasm among retail investors. After an explosive rally, silver experienced a steep correction, once again highlighting the risks of entering the market at euphoric highs. The key message is clear: gold and silver deserve a place in portfolios, but with allocations aligned to the investor’s risk profile and a disciplined approach, far removed from speculative “meme stock” dynamics.