Is today's drop because it's heavy, or precious ?

TwoSides2aCoinTwoSides2aCoin Posts: 40,442 ✭✭✭✭✭

Just curious.

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Comments

  • jmski52jmski52 Posts: 19,498 ✭✭✭✭✭
    edited March 28, 2019 9:24AM

    Normally, I'd begin to say it's because of strength in the dollar, but gold is down against all of the major currencies today. Copper is up, and stocks are doing okay (relatively flat) today so I might be inclined to say that the markets have suddenly acquired more confidence in the "risk on" stance of a booming economy. But, silver and platinum are also down which doesn't lend strength to that idea.

    Which brings us around to palladium. Down another 6.77% just today. This leads me to think that all of the PMs are taking a hit just from the psychology of palladium's precipitous drops over these last 2 days.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 26,835 ✭✭✭✭✭

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • perkdogperkdog Posts: 18,545 ✭✭✭✭✭

    I hope it continues to slide, I want gold at $900 so I can drop the hammer on a small stack

  • 1970s1970s Posts: 2,493 ✭✭✭✭

    @perkdog said:
    I hope it continues to slide, I want gold at $900 so I can drop the hammer on a small stack

    I hope you're right, but I think gold is on a slow climb up to 1450.

  • rickoricko Posts: 66,621 ✭✭✭✭✭

    I do not think the trend of upward gold is over.....yet. I do not have a crystal ball, and I certainly have been grossly incorrect before (there, all disclaimers duly noted :D )... Just reading different articles and looking at various financial pictures (i.e. national debts, currencies etc.), I think gold will be going higher. Cheers, RickO

  • derrybderryb Posts: 26,835 ✭✭✭✭✭

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • derrybderryb Posts: 26,835 ✭✭✭✭✭
    edited March 29, 2019 6:35PM

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • cohodkcohodk Posts: 15,480 ✭✭✭✭✭

    “If it wasn’t for Russia’s central bank, last year would have been the worst year for gold buying in a decade, so it helped put a floor on the price,” said Adrian Ash, head of research at gold brokerage BullionVault Ltd

    That seems to stand in stark contrast to comments on this forum of strong central bank buying and price suppression by "them".


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 26,835 ✭✭✭✭✭

    @cohodk said:

    “If it wasn’t for Russia’s central bank, last year would have been the worst year for gold buying in a decade, so it helped put a floor on the price,” said Adrian Ash, head of research at gold brokerage BullionVault Ltd

    That seems to stand in stark contrast to comments on this forum of strong central bank buying and price suppression by "them".

    No it doesn't. Central banks have been taking advantage of the suppression. Have you?

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • blitzdudeblitzdude Posts: 1,570 ✭✭✭✭✭

    Some would try to argue paper manipulation. Others would simply say supply and demand. I continue to slowly add to the stack. Daily price moves don't excite me much. The ounce total continues to increase, just hope I remember where I buried it all. Stack on!

  • HemisphericalHemispherical Posts: 6,133 ✭✭✭✭✭

    @TwoSides2aCoin said:
    Just curious.

    Found this.

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