What just happened... gold down by $121

Discussion in 'Gold' started by maverick, Nov 9, 2020.

  1. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    been there... done that... on $2,000AUD mark :D

    still ahead, so no complaining from here.
     
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  2. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    The logic goes something like this :-

    Vaccine means less need for stimulus
    Less stimulus means bond yields not suppressed (they go higher)
    Higher bond yields means stronger dollar
    Stronger dollar means lower Gold and Silver

    It was a knee jerk reaction but chart monkeys would argue that technical damage has been done. We're still fluctuating either side of $1900 so not a big deal IMHO. I'm expecting choppy sideways action until Inauguration Day. Upward trend to resume once the Presidency is settled.

    What has been most interesting has been that Bitcoin sold off a little and bounced convincingly. It is showing resilience and confirming its bull market trend to my eye.
     
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  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Someone doesn't want him to lose. Someone powerful enough to make them announce the vaccine.
     
  4. alor

    alor Well-Known Member Silver Stacker

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    the 250+ up day will join us real soon
     
  5. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Ideally, I would like the $100 up days to join us first, @alor.

    A $250 up day might be too much for some of us old stacker farts tickers to handle, and we may go into cardiac arrest :D
     
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  6. Jason1

    Jason1 Well-Known Member

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    gotta question the timing on the vaccine thing.
    If this announcement was made 2 weeks ago, the election outcome would have been different.

    I dont even like Trump but you have to wonder, especially with the media mocking him for saying a cure could be announced around election time.
    It seems he was expecting the announcement to be released before poling day as he was adamant weeks ago a vaccine would be ready before poling day and when trump was mockingly asked by the media who was making this Mysterious vaccine that was going tobe ready really soon he replied saying pfizer.
    So has big farma played some politics here and delayed the expected announcement? Im thinking yes.
    would have taken allot of wind out of the dems sails on the whole covid response thing if Trump had of announced there was a vaccine
     
    Last edited: Nov 10, 2020
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Trump had threatened to regulate medicine prices so big pharma doesn’t like him.
     
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  8. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Even with the vaccine they can not stop the neverending stimulus and they can not raise interest rates.
    The vaccine wont have the healing power on the economy some think it will. It doesnt change anything and wont make a difference besides slight upticks for some shares.

    The damage has been done.
     
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  9. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    The market is about perception, not reality. ;)
     
  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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  11. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    Hear ye...
     
  12. Pirocco

    Pirocco Well-Known Member

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    Of course not. People decide when they will materialize profit or loss.
    All I know is that the current price level is lotsa profit in terms of purchasing power.
    Profit gets grabbed.
    Won't be gold alone though, there's a super crisis to expect. Just another.
    Once again orchestrated by central planners, this time using a virus as excuse to hit the economy and living together.
    Bearish talkers often suffer the Cassandra effect.
     
  13. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Same rules as always still apply then.
    Stay calm and stack on.
    Stack twice as hard when the price gets smashed.
     
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  14. leo25

    leo25 Well-Known Member Silver Stacker

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    Hope gold stays above the line. I think (hope) it will snap back up hard.

    gold chart.jpg
     
    Last edited: Nov 25, 2020
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  15. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    I don’t think spot is the problem of staying above the line... it’s AUD that making the spot tanking in AUS!
     
    kilo likes this.
  16. Pirocco

    Pirocco Well-Known Member

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    There are always people that say a higher price.
    They need a sucker willing to pay it.
    Then both hands down on the SELL button.
    And then the same people will say a lower price.
    They need a sucker willing to accept it.
    Then both hands down on the BUY button.
    Old story.
     
  17. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Janet Yellen will be the Treasury Secretary. Biden's pick):D
    Higher Stock-market. (Even with their shitty PE ratios):rolleyes:
    Higher Bitcoin.;)
    More debt. (Can you hear those printing presses?) :eek::D
    Great news for those who want to get into the precious metals market. :cool:;)
     
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  18. Pirocco

    Pirocco Well-Known Member

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    In the future, you mean?
    The days of the printing presses are long gone.
    They're smarter now: produce 1 billion new, destroy 1 billion minus desired inflation ratio existing.
    How to destroy: make them pay $2000 instead of $1000 for an ounce gold, then get the difference by fining the lbma banks for market rigging. :p
     
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