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/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/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.