I cant understand why gold dropped so much overnight. The only...

First 59 Last

Share
Profile

Follow
ChristopherC

4,868 Posts.

527

09/01/21

09:40

Post #: 50051378
Share

Originally posted by albatrosss: ↑

Have no doubt they are trying to control/ crunch gold.
at the present with the sort of money creation that is going on and will be going on.
Gold should be booming. But that is not the desired situation. Bitcoin is there to soak up some of the money that is coming out the zerro / -ve interest rate environment. Booming stockmarkets are another example of investors chasing gains.
One could argue that this pressure cooker environment is going to explode. What happends at that point could be devastating for bitcoin.
The other scenario is that , there is a creation of the new digital safe heaven being created and the ending of the 5000 years of gold. Unlikely but it is there since the ending of the gold standard. However , the fact that gold has been appreciating at a great rate over the last 20 years trumps that scenario really.
Anyways, there could be some very interesting times ahead. Zerro interest rate environments are a completely new way of life. And the banning/out phasing of cash from society is no surprise.
Gold should shine. But a concerted effort to curb that shine will create an even stranger world.

Expand

I cant understand why gold dropped so much overnight. The only explanation is some cash leakage towards cryptos. Granted US dollar was slightly stronger but even that seems against all economic evidence. Not only did the US have poor job figures but with more stimulus coming, riots in the capital and an unhinged president, it seems everyone in the US are suddenly feeling extremely optomistic . Sorry but I'm not buying it. So will look for opportunities to increase my holdings across my gold portfolio. The Yanks are dilusional like their president.

Christopher

SLR Price at posting: $1.85 Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

Reply

Top Stories

OSL

Oncosil device successfully treats pancreatic cancer in Türkiye

Emerald & Azure score Digger & Dealer awards

Earnings Wrap: why is the utilities sector tanking & other big name earnings on Thursday

Bitcoin: Current State of Play & Where to Next | Swyftx

MXR

Maximus picks up 25.93 g/t of gold through infill drilling at WA's Hilditch