Why is gold tanking?

kmiklas

kmiklas

Hello All,

Can anyone shed some light?

I would think that in a market like this, laden with unusually high risk levels, peeps would flock to gold.

But no! Gold fell today from yesterday's close at 1640 and has plunged to a price of 1565 at this moment!

Why why why is the sky blue??? I don't understand. :(

--Keith

@admin: I put this here instead of commodities b/c it's more of a trading question.
 
kmiklas said:
Hello All,

Can anyone shed some light?

I would think that in a market like this, laden with unusually high risk levels, peeps would flock to gold.

But no! Gold fell today from yesterday's close at 1640 and has plunged to a price of 1565 at this moment!

Why why why is the sky blue??? I don't understand. :(

--Keith

@admin: I put this here instead of commodities b/c it's more of a trading question.
More...

1. Gold isn't the "haven against adversity" gold-believers hope it is.... only seems like it at times.

2. When the markets get into this negative psychology, gold goes down with it to a degree.
 
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to them idiots who think gold/silver/bitcoin is safe haven asset.

the real safe haven is the US Dollar, always will be as long as the empire stands.
 
People seem to think that in times of economic uncertainty, they should invest in Gold. I've always thought that concept was ridiculous. Like @padutrader said "stocks go down gold follows" so why invest all in a metal that you can't eat or drink? Is Gold going to keep you and yours from starving?
 
Maybe 3rd time you are asking about Gold not being up....

Did you load up long and get blown out like a colon sphincter after a night out eating curry?
 
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