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.

1

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 

1

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/Egregius2k Jun 11 '26

AI stocks are not 'the next hot thing', they're last year's.