When a single American jobs report fell far short of expectations, it quietly reshuffled the assumptions underlying global capital flows — weakening the dollar, softening rate expectations, and releasing precious and base metals from weeks of sideways drift. Gold crossed $4,000, copper set records, and silver surged, each reflecting not just a data point but a collective reassessment of where monetary policy is headed. Yet the rally sits on uncertain ground, with the Strait of Hormuz still contested, the Democratic Republic of Congo tightening copper supply, and a week of US inflation data ahe