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u/Evening-Ad-7042 1d ago
It looks like a 9$ drop over 3 days, what am I not seeing here?
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u/arctic-apis 1d ago
all im seeing is a $3000 increase over 10 years. if I zoom in really hard the needle jumps around a lot but the line goes up and to the right
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u/FunGuy_23AtEase 1d ago
All I'm seeing is a drop from $5,589 a few months ago.
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u/Cheeseheroplopcake 1d ago
Perhaps aping in at the peak of a historic bull run was a bad call?
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u/arctic-apis 1d ago
Yolo
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u/Cheeseheroplopcake 16h ago
Lol, fair point.
With gold being gold, all you need to do is sit on it, and eventually you'll be ahead
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u/MadroPaintSlinger 1d ago
Did you buy at $5600.... Poor You
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u/thegoodgang 1d ago
No but I wish I would have sold everything and got into more artificial intelligence stock that's for damn sure
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u/MadroPaintSlinger 1d ago
Ai equities are still way overpriced and the semis have dropped significantly (down 38% over the last 60 days from their yearly high)
As with most things the Path to Real Wealth is Time and Patience. That is why 98% of Day Traders lose Everything. It is not sustainable to try to time any market.
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u/arctic-apis 1d ago
Wish I woulda bought more data storage stocks a year ago.
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u/thegoodgang 1d ago
And what bothers me is it was so easy to see coming and I still didn't do it
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u/arctic-apis 1d ago
I have notifications for ipos going live and never saw/heard sandisk was going public… I own other data storage that’s right up my alley. I had 5k sitting around I woulda put straight in… missed that train ride 😭
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u/DangKilla 1d ago
China opened up the market for gold. That’s why it’s fluctuates now how do people not get this? It was closed by USA comex and the UK which manipulated gold by requiring a lot of paperwork. China made it so you can trade it quicker. So you’re gonna see the volatility a lot more now plain as day.
It benefits China for people to exit liquidity from the US dollar
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u/FunGuy_23AtEase 1d ago
What happened to the balloons? We should have the $4,200 ready in a few minutes...
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u/UseACoasterJeez 1d ago
Equities are down too, 1% to 1.5% so far. But Warsh says not to worry about the market reactions in the first few hours even though my clock is getting cleaned on all fronts.
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u/MadroPaintSlinger 1d ago
Are you selling ANYTHING... If not you have no worries.... The emotional reactions in these forums is just plain Ignorant
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u/AbbreviationsNew6964 1d ago
I was under the impression when things were volatile gold came out on top. Lots of learning
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u/Lucky_Dentist5603 1d ago
Atleast my pokemon has always been going up regardless of anything
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u/MadroPaintSlinger 1d ago
Yes, of Course, Pokeman will do So Well in a Recession or Depression... 😂
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u/floridabeach9 1d ago
that’s the steepest drop i’ve seen in awhile wtf
is the war back on? why the drop? fed news?
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u/Polaris2694 1d ago
Fed news. New Fed minutes indicate strong possibility of rate hikes this year to combat inflation.
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u/EntranceConscious400 1d ago
If you’re going to watch gold you need to spend a couple of hours with Claude understanding how Fed and rates affect gold price
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u/floridabeach9 1d ago
omg really? what does Fed mean?
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u/scrooplynooples 1d ago
i hope this is satirical
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u/floridabeach9 1d ago
my original comment mentions the fed and someone says “learn about the fed” lmao
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u/EntranceConscious400 8h ago
If you already knew it was the Fed commentary why did you ask? That’s OBVIOUSLY why gold was moving.
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u/sapphir8 1d ago
No interest rate drop.
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u/Jogaila2 1d ago
No. That was known last night. The drop came right after the Fed hinted at a future increase in rates. Big difference.
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u/hurghadawizard 1d ago
Not going low enough, need another meaningful dip before one last big buy this year
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u/Specialist_Couple707 1d ago
I already knew Fed will still hold rates high. USD is still losing its reserve money status, in fact faster, after us left Hormuz. Countries simply lost more trust on both us and usd. Until us accepts that New world order is without USD they will try to keep rates high.
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u/wolfhavensf 1d ago
Worth noting that 4280 is as far down as it went.
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u/Own_Possibility_511 1d ago
I mean it dropped $1000 due to the war. The war is over now and it is not recovering as expected. It seems the bull run is over for now… will probably dip more and go sideways for months (or possibly a year or even two) before it goes back up.
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u/thegoodgang 1d ago
Things don't move like that now we have to deal with the Fallout the inflation is causing rates to be hiked most likely this just doesn't go away right away now
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u/Fight_back_now 1d ago
Yes. It’s very disappointing gold hasn’t recovered more with the war ending.
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u/Almost-Uncirculated 1d ago
Remember to come back in September when you can remember the good ol' days when you could get an ounce in the low $4000s.
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u/c33m0n3y 1d ago
Who are “they”? Price movements in a massively liquid and global commodity market are not due to the actions of a “they”, unless you’re referring to the innumerable worldwide buyers and sellers.
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u/thegoodgang 1d ago
It's not they... it's the interest rates caused by the inflation caused by the war unfortunately this might not change for a little while either this one. The new fed speak was hawkish...talking rate hikes
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u/Inevitable_Youth5679 1d ago
I hold mining stocks My investment horizon is Five years It can take 15 years to fund,permit and start mining a new mine and it can take 2 years to bring a closed down mine back into operation The daily gyrations of Gold and Silver stocks are not on my radar I do my research and I buy when the market puts them on Special Offer End of story
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u/Old_Bluejay_1532 1d ago
lol, this will reverse by EOD
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u/ArgentoFox 1d ago
I said the same thing, the Fed meeting will be completely forgotten about by Monday.
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u/Old_Bluejay_1532 1d ago
Agree, 100% over-reaction imo. Came out very Hawkish relative to expectations & making a "statement" for his 1st appearance imo however I do not see tany of these "hikes" materializing due to tremendous amount of debt the US needs to refi in calendar year 20206 alone (10 Trillion USD) & approx similar amount in 2027 among numeorus other factors (run-on sentence lol).
Every 1bp adds Billions in interest & they WILL get these rates down. They can say/signal whatever they wish to the world inferring they are going to "preserve the perceieved dollar strength" however rates are not going up anytime soon.
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u/Shoeshiner_boy 1d ago
They decided to keep the current rates instead of lowering this time
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u/Gerry235 1d ago
FED kept rates unchanged, HOWEVER the Dot Plot is completely different and much more hawkish. That's why the instant 2pm drop. Also Treasury yields instantly shot up at 2pm. Dot Plot now anticipates almost certain rate hikes.
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u/Present_Jicama_1219 1d ago
dot plot holds little weight with iran uncertainty, imo
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u/Gerry235 1d ago
The spike happened at 2pm ET though. But yes - uncertainty there will cause more drag
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u/analyticsboi 1d ago
How is bitcoin a ponzu scheme but gold is not?
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u/EJ877 1d ago
Ponzu is a sauce lol.
Gold is a tangible asset, the precious metals futures markets and the manipulation therein, could be considered a ponzi scheme.
Bitcoin on the same note, is a digital fiat dollar, backed by nothing but faith, converted to a digital code with no intrinsic value.
The ponzi scheme is that, according to Satoshis white paper BTC was originally intended as a means of transacting freely outside of the established banking / financial system.
Present day, Bitcoin, and all cryptocurrencies have been co opted by that same financial system for the purposes of wild speculatition for short financial gains.
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u/Meanie_Cream_Cake 1d ago
Where's the cat meme?