The gold thread

[d5000]

Yes, but it was a crash that affected all markets.

But gold fell more than most other markets (including Bitcoin). The reason is of course that the gold market overheated much more than other markets, except silver and platinum which overheated even more (and crashed 10-15% today, it seems). And that's my main point here: Gold/metals FOMO and panic obeys the same rules than Bitcoin FOMO. It's simple mass psychology.

I'd say that much depends if gold can hold the $5000 level. It briefly dipped below today but that doesn't matter, but if it dips below $4900 or so for several days, then the rally might be over for now, or at least suffer a setback like some months ago when it stalled around $4000 and needed help from Trump to see new ATHs.

Silver is dipping below 100$ right now again. And I think the metal markets could be influencing each other.

[mindrust]

Gold and silver are taking quite a beating at the moment. Silver is down 25% (trading at 85 usd) and gold is down 8.6% (trading at 4900 usd) today. It is quite shocking to see this much volatility on those commodities. It feels like early crypto days and you know what? I liked it a lot. If this keeps happening more often, I am quite afraid we might lose crypto degenerate gamblers to commodities... Binance already has gold/silver trading on their platform If I am not mistaken anyway.