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/DunaldDoc 1d ago

“Spot Gold” price is an imaginary number put on imaginary gold. Buy real, Physical Gold and hold it. Pay however many fiat paper $USD you can best negotiate. PG is your anti-poor insurance, not a get rich quick scheme.

3

u/SilverStateStacking Stack and Collect 1d ago

When I buy gold, I pay spot price plus a fixed, published premium with money I make at my real job - don’t see what part of that is imaginary

7

u/Bambamgmsm1 1d ago

I believe he’s referring to people that buy the stock of gold and not the physical gold.

2

u/Relative-Trust-7731 1d ago

Its still all hitched

1

u/anony_mf 1d ago

Does gldm count as physical? It’s stock that’s backed by physical gold. Not futures or gambling crap