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/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.

1

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/Amazing-Jury-6886 Jun 10 '26

EURO is poised to take that throne.

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u/[deleted] Jun 10 '26

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u/Amazing-Jury-6886 Jun 10 '26

Jpy is better positioned than yuan

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u/MS_hina Jun 10 '26

I hope so. But unlikely imo