I wouldn't be surprised to see it go as far as $950 USD before we see the bottom.
no idea where it will hit before it finds a floor.... a lot seems to depend on Trump/China now that BrExIt fear has dissipated... unless we get more panic, Gold is not likely to soar back up any time soon.
no idea where it will hit before it finds a floor.... a lot seems to depend on Trump/China now that BrExIt fear has dissipated... unless we get more panic, Gold is not likely to soar back up any time soon.
It should find support at previous bottoms namely around $1050 USD but I would expect it to sell off into 2019.
Fear is one of only two drivers. The other driver is that women like it as an ornament. That's a powerful driver though, women have a lot of power.
Nope, derivatives are the biggest driver of the gold price. You can argue "fear" has something to do with the movement of derivatives, but that's no different to JPY appreciating. You probably won't believe me, and that's OK. The gold price has emerged as a boogeyman that is used to fiddle with the emotional states of the masses, therefore you're fed nonsense by the media and a parade of dogmatists who rely on the "she'll be right" aura of the monetary system (which is fundamentally broken).
Demand for physical gold for jewelry is a secondary driver of the gold price. It has nothing to do with the critical mass of gold trade.
... derivatives are the biggest driver of the gold price ...
Tha goldbugs used ta tell me that 'manipulation' by tha worlds central banks woz tha biggest driver of gold prices.
Funny that when ya think about it eh? 'Cause while they reckoned central banks could 'n did manipulate gold prices, they had naff all chance of being able ta manipulate stuff like housing 'n stock market prices.
PS: Cue for Tezza ta jump in wif ya start goin' "Well Jethro, it works like this ..." - LOL
Tha goldbugs used ta tell me that 'manipulation; by tha worlds central banks woz tha biggest driver of gold prices.
Funny that when ya think about it eh? 'Cause while they reckoned central banks could 'n did manipulate god prices, they had naff all chance of being' able ta manipulate stuff like housing 'n stock market prices.
PS: Cue for Tezza ta jump in wif ya start goin' "Well Jethro, it works like this ..." - LOL
Derivatives are an instrument Jethro. Much like traps for catching critters. Central banks can only manipulate the price, not necessarily value.
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