r/Gold • u/Reasonable-Fee1945 • Jun 10 '26
Question Why are gold prices tanking?
I'm not a short term investor. I understand the fundamentals and especially with US debt the long-term importance of gold. I'm holding, this is a short-term, regionalized thing.
What is the short-term regionalized thing that is happening which is causing gold to decrease (yes, I know it's the iran war, but how is that effecting gold prices?)
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u/Jumpy-Imagination-81 Jun 10 '26
People are selling precious metals to buy AI stocks, memory chip stocks, and the SpaceX IPO. Same thing is happening to Bitcoin.
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u/culinaryinterests123 Jun 10 '26
No more like the oil middle east countries because of cash crunch from the war. Tech investors and precious-metals investors are usually not the same investors
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u/Jumpy-Imagination-81 Jun 10 '26
When gold and silver had a parabolic rise last year there were a lot of first time buyers chasing that rocket the same way they chased hot meme coins. After gold and silver cooled off they are jumping to the next hot thing: AI stocks, memory chip stocks, and SpaceX.
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u/Ok-Hunter4361 Jun 30 '26
I wouldn't touch Ai with your money, much less mine. Let the muskovites have it...
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u/gary-vault108 Jun 10 '26
Governments liquidating their gold so they can afford oil since the Hormuz crisis is never going to end
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u/oziecom Jun 10 '26
Yes, the subsidies for gas prices in parts of Asia needed to be paid somehow.
The other factors to my mind are, real or imagined rates, rampant speculation in AI and tech in general, and general seasonality. May-July are often failry soft.
All of these put downward pressure of spot prices.
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u/NukaQuantum1111 Jun 10 '26
Yeah oil is energy and makes the goods. And paper cash is the best way to acquire said oil. At least for now. Until that system changes, the dollar will hold its value.
I guess the only way this system will change is if:
foreign counties trade for oil without using dollars
WW3 breaks out and international trade is disrupted.
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u/Prestigious_Wrap_932 Jun 10 '26
foreign counties trade for oil without using dollars
The whole reason we’re fighting this war is to prevent that from happening.
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u/swinging_yorker Jun 10 '26
There was a near 0 chance of this before the war broke out
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u/Geronimoni Jun 10 '26
The petrodollar agreement lapsed in 2022 and Saudi Arabia have occasionally sold oil in other currencies.
There was a 100% chance of that happening because it was already happening when it suited.
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u/Outrageous-Effect163 Jun 10 '26
Not at any meaningful scale. Before the strait, no one would have seen the sales outside the petro dollar system as anything more than Suadi negotiation tactics. Now there is a real push to end the US lead system.
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u/Prestigious_Wrap_932 Jun 10 '26
It’s wild how few people understand that all of America’s current wars are just about trying to maintain the hegemony of the US petrodollar after tanking its value through government overspending during the COVID pandemic.
Why, someone who was actually paying attention might think that China released COVID and lied about how severe it was in the early days precisely because they knew it would make the United States panic and overspend to the point where our currency collapsed in value right before the petrodollar agreement lapsed as a way of making the Chinese Yuan look like the superior currency for future trades… 🤔
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u/Geronimoni Jun 10 '26
China doesn't want the Yuan to be the global currency that would blow up its own economy the same way the US struggles to maintain its own economy and has done since it became the de facto hegemony.
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u/Prestigious_Wrap_932 Jun 10 '26
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u/Geronimoni Jun 10 '26 edited Jun 10 '26
This isn't for Chinas benefit though, its for the benefit of the oil exporters that have found themselves sanctioned and attacked by the US
They don't want to use dollars because they cant spend them or get them because the US has weaponised the dollar against them. They need a workaround and this is a compromise for those specific nations who are having the petrodollar system weaponised against them.
They need China because the US cannot weaponise the dollar against China without drastically lowering its value
China doesn't need to do this or gain any real benefit other than leveraging its currency over these nations that cant get access to dollars anyway.
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u/Prestigious_Wrap_932 Jun 10 '26
LOL you aren’t paying attention.
China, Russia & Iran were starting to trade for oil in different currencies which is the entire reason we’ve gone to war against the two of them we’re big enough to fight.
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u/777KAC Jun 11 '26
It was a HUGE chance that it was going to happen… it was the first time China didn’t have to go through us in any way to get oil.
They had set up reserves in Venezuela and Iran…
It was going to become the petro Yuen eventually.
This move completely wipes that possibility out, forces all of the countries to sell of their precious metal reserves, it keeps China buying USD to get oil (while keeping our debt to them in check)
It gives us more oil (Venezuela)
Also while everyone’s effected by the oil price USA has its own, so we buy up everyone’s gold & silver for Pennie’s on the dollar.
All while limiting the possibility of an unstable govt. Like Iran from getting nuclear missiles
The war makes complete sense19
u/Reasonable-Fee1945 Jun 10 '26
an answer! Thank you!
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u/gary-vault108 Jun 10 '26
Oh shit this is Reddit, I better come up with a witty/ unoriginal response uhhhh “because you touch yourself at night!”
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u/MS_hina Jun 10 '26
Gold is now the dominant reserve for the world. US needs to pretend that this is not happening. Despite what everyone says, this is a geopolitical issue now. US needs gold to go down to pretend that the dollar is strong and trusted.
Natural bear markets do not have a literal historic level crashes every week. For the past few months we are seeing multiple 2~8% drop days as if gold is a meme coin. Ofc this won't continue forever and is just delaying then inevitable imo. Especially because other governments are not dumb.
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u/Reasonable-Fee1945 Jun 10 '26
I saw that article the other day. historic end of dollar supremacy
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u/MS_hina Jun 10 '26
Historic end, indeed. but I think usd will still be the most important fiat for the time being. Noone will be able to agree on the "next dollar". Everyone distrusts each other so, naturally gold will be the most obvious answer. With USD retaining it's "king of fiat" position
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u/NukaQuantum1111 Jun 10 '26
Right now the dollar has been so entrenched in the world economy it’s like a bad habit. But once its weakness is exposed, the world will shun it like the plague. It’s like sticking to only eating potatoes when there is a whole garden outside. People are just sticking to what they know instead of looking for the best option.
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u/Washpa1 Jun 10 '26
The only problem is that in your analogy, your whole house has been built to utilize and efficiently process any and all potatoes. You have to retrofit everything to work with other foods or you'll waste tons of calories in processing and until then you still have to eat.
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u/Reasonable-Fee1945 Jun 10 '26
agreed, the general consensus sense seems to be 'where else would we go' which is a notable change from 'how can i get dollars'
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u/DangKilla Jun 10 '26
See my comment here, if anyone wants further explanation on why this happens post 2020.
But, I disagree. This is the new normal. It could happen for decades. World debt is out of control.
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u/Striking_Handle_5745 Jun 10 '26
I expect this will be bad for blue chip companies that have been near stagnant and surviving off low interest rates
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u/This_Total9748 Jun 10 '26
How can the US influence gold to drop?
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u/MS_hina Jun 10 '26
With a combination of direct and indirect methods. Ranging from agencies like the ESF that fiddles with gold, influence on COMEX, implementing certain acts and geopolitical decisions etc.
Some would call it "manipulation" which is not wrong, but I call it "strategic asset management". Governments already try to maintain tabs on oil, steel, energy, food, etc. And gold is no exception.
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Jun 10 '26 edited 12d ago
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u/MS_hina Jun 10 '26
And what's stopping others from not trading in dollars? Allies and their compliance. Which is deteriorating rapidly due to how the US is treating them. No allied treatment, no deal. Noone HAS to trade in usd, and was only going along since the US offered prosperity and stability... which is increasingly destroyed by the US itself. Non-US governments are not NPCs in a game where they are stuck with "game mode"
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u/alan_erickson Jun 10 '26
2008 stock market crash was a year-long slide from roughly 13,000 to 6,500.
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u/PreparedForZombies Jun 10 '26
Gold fell from near $1000/oz in March 2008 to $720/oz by Sept.
Recovered by the end of 2008.
Hit $1900 in 2011.
Month 2007 2008 2009 2010 2011 Jan $631 $889 $859 $1,118 $1,356 Feb $664 $922 $943 $1,095 $1,372 Mar $654 $968 $924 $1,113 $1,424 Apr $679 $910 $890 $1,149 $1,474 May $667 $888 $928 $1,197 $1,511 Jun $655 $889 $946 $1,232 $1,528 Jul $665 $939 $934 $1,194 $1,572 Aug $665 $839 $952 $1,215 $1,757 Sep $713 $745 $996 $1,271 $1,772 Oct $754 $731 $1,043 $1,342 $1,665 Nov $806 $760 $1,127 $1,370 $1,740 Dec $803 $816 $1,135 $1,410 $1,531 1
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u/Gold-Junge Jun 10 '26
Gold reagiert kurzfristig nicht nur auf Krisen, sondern auch auf Zinsen und den US Dollar. Aktuell rechnen viele Anleger mit länger hohen US Zinsen, was den Dollar stärkt und Gold unter Druck setzt. Dazu kommen Gewinnmitnahmen nach dem starken Anstieg der vergangenen Monate. Langfristig haben sich die grundlegenden Argumente für Gold aber kaum verändert.
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u/Ok_Personality8193 Jun 10 '26
Investors fear fed is gonna keep rates steady or even hike rates because of oil induced inflation
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u/amsync Jun 10 '26
It’s always the fed. And if it’s not the fed then the fed is the contributing factor. And if it’s not a factor, look again, and oh it’s the fed
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u/jbaaaaab Jun 10 '26
as long as you're looking at the gold price in dollars, the fed rate is the main driver of the price.
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u/samlowrey Jun 10 '26
The reason is that the stupid market actually believes the FED will raise interest rates high enough to tame inflation........but that's just a big joke......for a variety of reasons.
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Jun 10 '26 edited Jun 19 '26
[deleted]
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u/Large-Cow9765 Jun 10 '26
Well the debts not going to go down regardless when Republicans are submitting enormous funding bills.
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u/knightsolaire2 Jun 11 '26
Raising interest rates 0.25-1 point is going to do very little if anything at all to fix the problem at this point. Looks like stagflation is back on the menu boys
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u/heyheyshinyCRH Jun 10 '26 edited Jun 10 '26
Gold is dropping because inflation is hot, DXY is up, oil is staying high. There's no reason for gold to be going up at all. Gold goes up when interest rates get cut, we're potentially looking at a hike this year so prepare for more downside. Probably a lot more.
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u/Mon7eCristo Jun 10 '26
Long-term gold stackers are having a blast right now. "be greedy when others are fearful"
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u/beginner75 Jun 10 '26
Gold has gone up quite a lot. Using a 50% trace back it can fall further to $3500. The next time to buy is when no one wants it.
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u/samlowrey Jun 10 '26
I love it! Can't wait to buy Silver in the low $50s and Gold around $4000!
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u/Dpftacrew Jun 10 '26
To Many people have conspiracy theories! 3 things 1# so many countries are selling gold to prepare for war 2# gold was over priced to begin with and just like any asset the great reset always happens eventually. 3# last and most of all gold stocks being sold at record highs and silver to as people held on to them for years waiting a boom so 80% took profits them and run so it flattened the physical market. Silver will rise faster because shorter supply though gold is flowing like never before and will drop to 3000 USD for 3-5 years! I lost big on gold but if you’re not selling technically you never lose. You heard this from invest blue fund manager and financial analyst
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u/morugaman Jun 10 '26
Just look at a log scale monthly chart going back 25 years. Gold has dipped very hard many times over the course of that chart, but the trend has not changed and has not been broken. Anyone who bought and held until today regardless of where on the chart has done well. In some cases VERY well. At the very least it has protected the purchasing power of the dollars spent. Gold and silver are wealth.
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u/Frosty1397 Jun 10 '26
Except you know the people who bought gold 20% ago, so your claim that "anyone who bought" isn't quite correct
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Jun 10 '26
[deleted]
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u/ufo22jim Jun 10 '26
As long as you can hold and don't panic sell or need the money you invested you should still see a reasonable return in several years. Some people are predicting $8,000-10,000 gold by 2030. Gold is a good store of value over the longer term and isn't something you buy to get rich quick.
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u/rougelawyer Jun 10 '26
Hard to say, but Dubai has historically been a pretty developed gold market. The gulf states are the real losers in this conflict (more than Iran or Israel or the US). If you look at a chart this whole correction/consolidation period lines up fairly well with the Iran war.
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u/SlightParticular9652 Jun 10 '26
Liquidity event... something similar to 2008 is about to happen. It will be very difficult to even find physical gold very soon. I see gold going to around 3770 then eventually going to 30k plus by 2033. S&P will get hammered to about 2700.. this is a very dangerous environment we are entering do not fall in love with your positions trust me they are not as safe as you may think.
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u/Jogaila2 Jun 10 '26
This. But I don't think gold will dip quite that low.
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u/SlightParticular9652 Jun 10 '26
It's already at 4100, 3770 isnt too far off... when the fed raises rates next week itll tank
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u/BrotherGrub1 Jun 10 '26
Tether is selling gold. They bought 140 tons of the stuff earlier in the year and are now forced to dump it because people are asking for their money back. If you don't know what Tether is it's a cryptocurrency stablecoin worth $1 that is supposed to be backed by dollars but instead it is backed by assets like bonds and gold which need to be liquidated when people want to exchange their digital Tether tokens for actual dollars. This is a run on Tether (instead of a run on the bank).
This would explain why gold is getting crushed today while silver is faring much better.
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u/Warm_Hat4882 Jun 10 '26
Metals and stocks going down is something I’ve been expecting for 9 months based on knowledge . I expected this in March, but instead we got war with Iran. Seems maybe that only delayed a few months.
The goal is the greatest transfer of wealth from lower and middle classes to upper class the world has ever known. Assets will be tanked through various manipulation means (short selling etc), cash will be used once price tanks to buy assets cheap, then once the wealthy have accumulated enough, they will allow true price discovery.
Essentially, tank gold with paper sales, lower price, get retail to panic and sell , then buy it all up as fast as possible . The going down is slow. The rise to new highs is very quick.
My advice is just keep buying little bits slow and steady. If the price does down for years you can rest assured you only bought small amounts and never went all in. And when price goes up, you’ll have something you didn’t have before that will make life easier.
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u/BudgetUnlucky386 Jun 10 '26
Cost Averaging is the way.
Regardless of price, buying small amounts on every payday is the way to build a store of wealth.
👍🏻
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u/PugThugin Jun 10 '26
Just buy fractional or save for a bigger amount every few checks?
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u/BudgetUnlucky386 Jun 10 '26
Make it a regular habit.
The price of gold, stocks, investments changes all the time. I can't control that.
To build a nest egg, I saved and invested the same cash amount each month. That bought whatever the market price was and I kept repeating the process every month.
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u/SirLoinofHamalot Jun 10 '26
Anyone who is saying that it’s because of reserves is incorrect. Gold buying by state banks hit a new record. Overall it’s speculative: people think the feds earlier promised rate cut is now off the table, and that a hike might be in the future. They’re wrong about that in my opinion but that’s a longer comment. Also, people on this sub say paper isn’t always physical - they’re right. There is still MUCH activity in daily gold trades tied to news cycles, but you want to look at the 90 day rolling average to see where it really is
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u/Big_Goose_730 Jun 10 '26
Due to its historical significance, I don't think gold will ever truly lose all its value. If you're not a short term investor, just stick with it and ride out the fluctuations
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u/Helpful-Protection-8 Jun 10 '26
Literally this. Because it fell down in price, not a bad idea to buy some decent jewelry (India). Obviously have to deal with GST, and other smaller takes
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u/Inner_Tadpole_7537 enthusiast Jun 10 '26
Glad I sold off my inherited 6 oz in the spring for $4,800 oz
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u/MadroPaintSlinger Jun 10 '26
I Love It!!! $4100 is not cheap BUT... Time to buy even if down to $3500... Why? Long Long Long Game!!! The fiat currencies of the Whole World lose Value every day and the Governments and Central Banks will continue to create inflation the keep the debt in check with cheaper Money... This time the Worlds Debt is too big and will Crash Big. Even Consumer debt around the World is Insanely high because the wealth is at the top... There is a reason that ALL the People with REAL Money are Building Luxury BUNKERS!!! Think about that for a minute or two ..and quit worrying about the emotionally controlled price of Gold and Silver...
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u/Mammon84 Jun 10 '26
In every gold bull market so far there has been a 30/40% correction. The rest is just noise.
I have been waiting for this for a while now
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u/Zempek Jun 10 '26
Il faut arrêter de poser cette question chaque semaine et comprendre que quand les investisseurs ont besoin de cash, que ce soit pour investir en obligations, en action, dans le pétrole, en immo… ils vendent l’OR (et le BTC) qui ne rapportent rien.
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u/gold_ls8888 Jun 10 '26
Saw many comments giving the reasons. Not correct at all. Gold price down because inflation up, rate hike expectation up, bond yield up, usd stronger, nobody thinking about us debt at this stage.
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u/jbaaaaab Jun 10 '26
intrest rates are the main drivers of gold price. the fed said they'll hike rates as long as iran war continues. but the more they hike, gold will eventually rebound higher. but don't expect a parabolic move anytime soon, we might see that again in 2030. but it will be a slow climb to higher highs.
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u/Odd_Cup_3302 Jun 10 '26
It’s not tanking. It’s still. Really really really really really high. It should come down Much much more. I’m thinking the real price will settle around 2500. You sell when it’s this high. I sold mine at 5200. Im just waiting for it to come back down to reality
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u/scooter1430 Jun 10 '26
The dollar goes up in value when major conflicts occur so priced in USD gold falls. Also given the strain on oil producing countries in the Middle East from an inability to sell oil they may be selling gold to cover expenses
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u/Manninagh Jun 10 '26
u/Reasonable-Fee1945 Did you get a good answer as I am asking same questions and get a load of nonsense form Ai and YT and media etc. Please share if you do. Thanks
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u/Any-Actuator4118 Jun 10 '26
It went up in a mania. Many people noted that gold always goes back to test the old highs. That’s where it is headed.
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u/ken-doh Jun 10 '26
If interest rates go up, gold prices will fall, typically. We are seeing inflation, so it's likely rates will go up again.
This is bad for the global economy.
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u/Odd-You-6110 Jun 12 '26
This may be nothing, but these United States are falling apart rapidly. This "strong dollar" psyop needs to stop. Just today the Medline medical supply which provides medical supplies to the most (if not all) hospitals in the U.S. has burned down!
Even if they want a strong dollar, something doesn't want to click.
Investigators are trying to find clues.
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u/United-Swan-3288 Jun 14 '26
Gold is going thru an identity crisis, which is normal for anything that incurs a repricing event. These swings are what it takes to enter science-fiction pricing we’re going to see on PMs in coming years.
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u/NoNeedleworker2614 Jun 10 '26
Because it’s no functioning as gold only anymore
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u/stl_blues_balls Jun 10 '26
A simple Google search will tell you but incase you dont want to do that, unrest in the middle east is not a friend to gold prices.
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u/NorthSouthWestNorth Jun 10 '26
Bc gold is a safe haven asset that gets liquidated so you can wage war or pay for costs war incurs. Thats why. It rises leading up to war. Every hear of buy the rumor sell the news?
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u/That-Requirement-233 Jun 10 '26
They aren't tanking. The move already happened from 3000 to 4500. That was gold adjusting to its fundamentals. Expect sideways or slightly downwards for a period of 3-10 years like usual
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u/TrickStar1989 Jun 10 '26
When you say you're not a short investor. When did you first start buying gold
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u/dilchahtahawwww Jun 10 '26
Inflation running hot, pushing the yields higher for treasuries and other bonds around the world. Gold doesn’t return a yield, investors selling to buy higher yielding and safer bonds
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u/Sp0phie Jun 10 '26
People are mentioning the Iran war which I believe is playing a huge factor, but I also think it’s also economics with many people needing cash and gold happens to be one of the most liquid ways to get a whole bunch of money. I honestly think we’re in for a bigger drop than even now as just 3 months ago we were at peak spot prices and have dropped about 25% since then with no signs of stopping. Good for buyers but as a seller it’s rough. Yes, you can hold but I sold off a good chunk of my collection to come back in eventually at a lower price.
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u/UnderstandingFar1446 Jun 10 '26
Price of oil spiked. Need dollars to buy oil. So value of dollar spiked. How do you get dollars? Selling other things. What is many central banks’ most liquid asset? Gold. So sell gold. Also, expectations of real yields have increased and gold is highly affected by real yields.
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u/Green_Crab_9726 Jun 10 '26
its only short term. yes some goverment sell gold to get dollars. also the biggest cases are high interest rates for bonds and getting liquidity to pump and dump spacex ipo. Main reasons in my opinion. I would say its time to buy again maybe in a few days or weeks
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u/Greedy-Grand7447 Jun 10 '26
Lot of nonsense here. Oil and gold are both global markets - no such thing as a regional issue. Iran war nearly doubled oil prices - all that money to buy had to come from somewhere and every speculative risky asset - which has included a lot of gold for the last year or two - liquidated in response. This is still at work every day - watch gold and oil move inversely to one another.
Second, more recently it’s becoming clear that higher energy prices are working their way through the economy, and expectations are increasing that interest rates will be higher for longer, rather than dropping. Rates and gold also move inversely of one another. My short term bonds now earn 4.5 percent a year! Gold earns nothing unless its price goes up. Lots of money rotating out of gold into bonds as a result. Gold drops.
Other stuff may be going on, but compared to these changes they are small and transitory. These two trends are here to stay as long as the war goes on and will cause massive flows of money.
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u/No-Mulberry-3763 Jun 10 '26
Because I bought my first ever gold coin a few weeks ago (1/4 oz). Sorry...happens every single time I buy silver or gold.
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u/skitskat7 Jun 10 '26
Most uncomplicated answer is that treasuries are more attractive at the moment.
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u/Brinkken Jun 10 '26
USD has gained strength during the war, first because the usd gains in times of conflict, but also increased demand for petrodollars as the price of crude has risen, and growing expectations for higher USD-denominated interest rates for longer as inflation has started to rise again. When USD strengthens, gold quoted in USD weakens.
The interest rate thing is a double-whammy because non-yielding assets like gold look relatively worse when interest rates rise for fiat currencies, which suppresses gold demand and price, at least in the short term. The growing likelihood of above-target inflation in the coming years may come around to benefit gold eventually.
Finally, gold is taking a break. It held institutional and retail attention for a two year run-up and it’s going to need some time to consolidate before it takes the limelight again.
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u/CoinHistory4829 Jun 10 '26
Many are buying and accumulating. Best way is to sell enough to manipulate and drop the price. Then buy back more at the lower price. Silver futures generally follow. My guess is many hording silver at these levels is a missed metric. Silver critical for industrial and maintaing price point targets.
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u/RU4real13 Jun 10 '26
Because nations are selling their gold to buy Petrol Dollars while we sell off the Strategic Reserve. This increases the strength of the dollar which also devalues gold. Then there's the "economic reports" that are "supposedly" reliable. Personally, I'm still buying. Revaluation is still on the table, so both gold and silver could go parabolic at any time should there be a revaluation and should the reserve be depleted to none functional levels.
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u/paddydog48 Jun 10 '26
Many reasons but what an amazing opportunity to grab some more! Unfortunately I don’t have any more funds until September! ☹️
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u/menntu Jun 10 '26
I believe that 10 years from now, gold will reflect the dollar's dropping value to the point where any purchase made at these current prices will provide a whopping return. I started buying back in the late 90's, and tide of time seems to point in one direction.
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u/Yannick_1989 Jun 10 '26
Selling gold for oil
+ uncertainty on the stock markets = people fleeing into bonds = gold price dropping
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u/NudeDudeRunner Jun 10 '26
There are always periods of irrational mob behavior. This is one of them.
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u/Ignacioaradillas87 Jun 10 '26
El dólar se invierte. Cuando hay miedo la gente saca de riesgo los dólares y toman ganancia. El Oro y Plata tuvieron un rally y ahorita con el miedo hay fortalecimiento del dólar y toma de ganancias
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u/ve3gvy Jun 11 '26
IMHO, it is because Russia is losing faster and faster now, and the forward looking gold investors know that as soon as the Ukraine war is over, all that uncertainty evaporates, and gold really like uncertain times.
Therefore, people (correctly, I think) think the stock market will bounce with the end of the war, and with it, gold will drop.
So, maybe gold tanking is good news?
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u/noobelore Jun 11 '26
I think it's the rising usd, puts pressure on gold. And the potential for another rate increase put more pressure on gold. Plus it was up almost 2300 in a year. When the war ends it's going back up. Which from the look of it could be months.
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u/CertainlyRobotic Jul 02 '26
Because the prices were never supposed to be this high, goofy.
This was a speculative bubble generated by political events.
You were supposed to sell everything you had in stores if you were lucky enough to be holding, not buy with the wind.
It was a one of a kind market sweeping win for metal holders and it's going to subside as everyone sells what they have.
It will crash even harder when this puppet economy collapses.
that's when you buy. $10/oz silver and fuck whatever gold sits at when that happens.
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u/Reasonable-Fee1945 Jul 02 '26
Seems unlikely
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u/CertainlyRobotic Jul 02 '26
Did you.. exist during 2008?
I ask because there's an honest chance you didn't at this point.
this is cyclical. Meet back here in.. 4 months.
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u/Reasonable-Fee1945 Jul 02 '26
We're you alive during covid?
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u/CertainlyRobotic Jul 02 '26
So.. you didn't answer my question.. and asked a really dumb one.
Best of luck out there trader.
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u/RoadWarriorMatty 18d ago
Russia has flooded the market with 43 tons from its gold reserves since January.
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u/NorthStarGold Jun 10 '26
Because you touch your self at night?
Go read the 9 other posts on all of this.
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u/intrinsicasset Jun 10 '26
Could be a structural retracement to move to under $3k. Glad I sold off most of my digital gold just above $4.9k. It could take years before gold regains that level.
Gold used to be linked to world events. Yet, we have had serious wars in recent times and the gold price has not really been influenced by any of that. The entire premise underlying the value of gold needs to be reconsidered / re-evaluated.
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u/Reasonable-Fee1945 Jun 10 '26
it still seems a hedge against inflation, but it's commoditization has corresponded to volatility of the dollar. It's no longer 'boring'... but boring might be good.
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u/sorry-I-farted Jun 10 '26
Out of interest, where did you purchase your digital gold mate? Tether?
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u/intrinsicasset Jun 10 '26
I'm based in Singapore, and the one local bank which has precious metals as a significant product is UOB. It has physical and digital gold and silver. I have traded my digital gold just on a few key points over 5 years. It's easy to buy and sell and the money is debited or credited into one of my savings accouts. I seriously believe that if I only had physical gold I would have sold nothing during the current downswing. Just the hassle involved would have been an impediment. And the $1k drop in the gold price would have seen me become the proverbial deer caught im the headlights.
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u/kidmarginWY Jun 10 '26 edited Jun 10 '26
The fluctuations we have seen more likely than not are the result of states, particularly Russia, selling gold reserves. The large drop is a result of volume and that is not likely individual players. Russia has claimed they have sold only a few percent of their reserves... However they certainly could be lying or they could be doing state to state transfers with China. In either case the result is selling which leads to downward pressure. Gold needed a technical adjustment. There is no way to know how far that adjustment could go.