alt Hacker NewsThis is the "dump" part of pump and dump. TikTok influencers have been pushing the gold & silver rally for weeks now, and it was inevitable that people at the top would eventually cash out.
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Too early to tell. They're both up since 6 months ago. Could be another one of those flash crash events. Buckle up!
> TikTok influencers
The dump is proximately caused by Trump picking a normal Fed chairman. Nobody on TikTok has anything to do with that, they're just pumping everything because seeling out is their day job.
It's not just Tiktok, and not just the last few weeks. There have been pro-Gold ads in every form of media for the last couple of years, many focusing on uncertainty. The timing is pretty clear.
The 2024 election was a time of great uncertainty, and Trump's first year in power delivered a reality worse than the fears. Trump is still throwing random tariff threats (and actual tariffs) around without rhyme or reason, but he's discovered that threatening to invade (allied) countries can stir things up even more effectively. Choosing a lackey to replace a competent federal reserve chair isn't going to help matters. We're just one quarter of the way through Trump's presidency (assuming he lives and doesn't seek another term), and it seems like the uncertainty is just going to get worse.
However, that uncertainty is, by no means, certain. Domestic resistance and midterm elections could curb Trump's power. International resistance is starting to coalesce. e.g. The EU's threat to use their "trade bazooka" probably contributed to Trump's TACO on Greenland, as did the potential demise of NATO. Responses to Trump's international graspings will likely become more prompt and more muscular, reducing the instability Trump can cause. The system has been shocked, but now its adapting. Many nations are hedging against U.S. centred uncertainty by pivoting to China or other allies. Global markets will likely become more stable as nations learn how to work around Trump's chaos by working around the U.S.. Still, it's very possible that Trump will find new and "creative" ways to make everybody freak out again.
Bottom line, the uncertainty that's been driving gold prices up since 2024 is going to let up at some point. But when? How overvalued will gold be when it does let up?
Gold reverted to the price it was wait for it five days ago. What actually happened was that Trump was forced/pressured to pick Warsh because prices were spiking in anticipation of how Trump's preferred pick would impact global finance.
But anyone who thinks Trump won't get his way and control the Fed to create hyper-inflation is living in a fantasy world that I wish were our actual reality.
We live in a world where Trump launched a criminal investigation against Powell. This is not someone who somehow learned his lesson in the last five days.
The irony is that if Trump understood how markets perceive threats to Fed independence, he'd try to influence rates behind closed doors and not make a public spectacle of his attempt to undermine Fed independence!
On Gold? You know the market is 35 trillion dollars?
Do you have any idea how much you'd need to pump?
This is a prime example of being confidently wrong. As another commenter put it (paraphrased) if you think a few Tiktokers can move the global silver market then you're a deeply unserious person.
There are fundamental issues driving up silver prices in the last 6+ months, capped off by China instituting strict export controls starting January 1, 2026, which has further tightened supply.
This is a short squeeze, just like Gamestop from a few years back. Banks hold huge short positions, the prices keep going up, the exchanges are intentionally trying to bail out by the banks by crashing the market and no retailer is actually buying silver for a bunch of reasons I went into more detail about in other comments on this thread.
Most of the influencers aren't even in on the investment, they just get paid to pump, and a lot of them don't even get paid, they just do it for the eye balls.
People want to get rich quick.
There's going to be a never ending list of people that will tell them how - just so they can get useless karma points on Social Media, even if they don't make any money, and just convince you to lose your money.