alt Hacker NewsGold has merely mean-reverted, not "crashed". Some profit-taking since gold got a bit ahead of itself.
If gold continues growing at the same rate as the last 6 months, it will take gold all of a month and a half to get back to where it was.
https://i.imgur.com/bRAy1FB.png
Now, gold might not continue growing, but D.C. hasn't fixed its problems that are causing gold to rise, so I do have a degree of confidence that it will recover quickly.
Replies
CyberDildonics • today at 2:02 AM
I'm not sure a 6 month window with a squished Y axis to make the graph a perfect 45 degree angle line means much. How it compares to currencies and other assets would be more interesting.
Everyone is focused on commodities and ignoring basically the entire global market got shook today. Bonds, indices, commodities, and securities all got tanked. Nothing in my portfolio was in the green today, and I generally invest conservatively since it’s my (maybe, hopefully, someday) house down payment at stake.
That said, I agree with you that this feels like a bunch of prominent exits to convert paper profits into actual ones. The underlying problems remain and will become increasingly exacerbated as the year drags on.
I figure I’ll recover losses by this time next year if I just refrain from panic selling.