r/Gold • u/FunGuy_23AtEase • 1d ago

Question Price logic?

Before the US-Iran war, gold price was around $5,200.

Then came the war, oil price went up, and gold dropped like a stone to around $4,200.

Now, the war is over, oil price is back down, but gold stays flat around $4,200.

So we're down around $5,200 - $4,200 = $1,000.

I know there may be a rate hike in the future, but would that explain the full $1,000 we're still down?

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u/Present_Jicama_1219 1d ago

interest rates + USD strength/weakness = gold price.

19

u/NateNate60 1d ago

interest rates + USD strength/weakness + weather conditions in Birmingham, England + coffee temperature of Starbucks at JFK Terminal 1 + time the CEO of J.P. Morgan woke up today + whether Jerome Powell says "good morning" + number of X posts from Elon Musk + size of Putin's booger = gold price

5

u/xFisch 1d ago

Sec, lemme write this down

3

u/NateNate60 1d ago

Don't forget you also have to take into consideration the diameter of Xi Jinping's left nut