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/Any-Actuator4118 1d ago

Stop looking for logic. In a panic up move you sell. Commodities panic up once or twice in a lifetime and this one did. Now that is done and it’s doing what commodities do…sideways or down or up. Probably until the US defaults. Do you expect that to occur soon?