It's Still Contrarian to Be Bearish: 3-Minutes MLIV

• Gold and silver prices are down significantly, seen as profit-taking after the initial 'war premium' was priced in.
• Cudmore anticipates further declines for gold (potentially another 10%) due to a stronger dollar and higher yields.
• Global stocks are experiencing their worst month in three and a half years, with European futures pointing to a negative open.
• Cudmore believes the market is still 'positioned very optimistically' and that the 'asymmetric setup is for much more declines to come' for stocks.

Mark Cudmore discusses the current market sell-off, noting a short-term capitulation in precious metals like gold and silver, which he expects to decline further. He maintains a bearish outlook on global stocks, stating that despite the worst month in 3.5 years, the market remains overly optimistic.