GOLD $1609 - pipped over $1600 yesterday.
Precious metals (Gold, Silver etc) hitting new highs.
Open_Window
#142
$1634 The march is on - perhaps the smart money is continuing to pile into real money because they can see what is coming in terms of US political turmoil (for one faction) and maybe not so much Coronavirus doom, but could be a combo of both, but itâs a barometer that people are preparing, because they might feel ill-prepared for what is coming, uncertainty or great change, or both.
Is it different this time? 
EconomicCrashDummy
#147
Might be a big short term dip before it starts really going higher. Traders might need to need to sell to cover other dropping assets. Could be the last chance to get in at reasonable prices.
Open_Window
#149
Perhaps the last few days of movements can be explained by shakers, movers and big time losers liquidating gold assets to cover big market losses.
May also account for bitcoin drops.
A sudden glut of sellers all round.
Epicurus
#150
So should we pile in at 1,500. Or is even Gold of limited use if we all start to âgo troppoâ
snaps
#151
Drop in oil price will lower the production/mining cost of gold and silver.
Industrial demand will be down.
Afaik, buyers of PM coins/bars are a small part of the overall market.
E92_335i
#152
Well that didnât take longâŚ
# Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program
Open_Window
#153
Already posted that last nigh in the GFC 2.0 thread, but yea, I was expecting it for the 17th and came in to post same when suddenly it was done. Things moving fast now.
Epicurus
#154
Gold falls below $1,500 as it is dragged into the global market rout
Analysts are attributing the historic fall over the past week to a âdash for cashâ as investors abandon all asset classes in favor of parking their money and cutting losses.
âDash for cashâ
Stephen Gallo, European Head of FX Strategy at BMO Capital Markets, said in a note Monday that the past week has seen a shift in demand towards physical cash, which has benefited the dollar and hit the price of precious metals.
âThat dynamic appears to be persisting at the start of this week, and there are few signs of this sort of flow ebbing,â he added.
Adrian Ash, head of research at online trading platform BullionVault, told CNBC on Monday that markets were seeing a âdash for cashâ and projected further downward price momentum in the short term. He said the usual consumer demand for jewelry remained absent, and many funds and investors were closing out positions and take profits from the metalâs surge in recent months.
mightyz
#155
Why everything is falling?
Where is the cash going at the moment?
Is this a server overload, stack overflow error type?
Gold, stocks, bitcoinâŚ
snaps
#156
snaps
#158
IMHO, silver/gold sellers are stuck with overpriced inventory.
Even though many are saying theyâre all sold out.
Since they make money on margins the sudden drop will have caught many of them out.
silver $11.95 -0.52 -4.20%
gold $1,494.64 -30.26 -1.98%
Open_Window
#159
GOLD $1750
Another $120 and it breaks all time high by a smidge.
Interesting to note from April.
Jan 8th post for moi, I might run:
Gold Breeched the $1600 mark early hours this morning (Iranian missile attack on Iraq).
Here is a notion I had a few months ago last year, but never posted and recent events brought it back to mind:
GOLD
- up to a range of $2.2 - 2.5K circa 2020/2021
- drop back somewhat (creates doubt / false peak - time to pile back in?)
- Ramp up to 5K (22/23⌠need ot check that date range)
- Eventually, but not sure of timeline, 10K+ does not seem insane ⌠well, the world will be in some new kind of configuration for that to happen right?
For the record, this outlook is not based on recent events in Iraq and Iran, that looks like a typical motivator to take another step or two up⌠there will be more something, somethings, this and thatâs to give good reason to keep stepping up to continue to asway any anxieties held.
All perfectly clear - prepared?