Is today's drop because it's heavy, or precious ?
TwoSides2aCoin
Posts: 44,364 ✭✭✭✭✭
Just curious.
0
TwoSides2aCoin
Posts: 44,364 ✭✭✭✭✭
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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.
I knew it would happen.
Of course this always happens after you bought some...
Something to do with the BIS and the ETF GLD?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I hope it continues to slide, I want gold at $900 so I can drop the hammer on a small stack
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
)... 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
The drop you speak of (3/28) was driven by the COMEX
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
early bird gets the worm
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
“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".
Knowledge is the enemy of fear
No it doesn't. Central banks have been taking advantage of the suppression. Have you?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
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!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Found this.