what a difference a week makes
$Gold Futures (FEB6) (GCmain.US)$ a week ago Tuesday there were pictures of hundreds of people lined up in Australia outside waiting to buy gold.
this picture circulated around on X there was multiple news stories on on various forums this represented the peak this was fomo, and now you're seeing a 10% sell-off in the price of gold in a couple of days and it could very easily drop several hundred dollars more. the central banks don't have to buy every day they can sit on the sidelines wait for retail to panic and dump and then they can resume their gradual purchases of gold if they so choose.
just like a stock can go parabolic gold went up and when everybody on TV is talking about gold that's your peak and we just saw it..
so now it will sell down it'll trade sideways and consolidate and at some time in the future it'll trade at another all-time high
but it could be a while
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37+ yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk
opinion not financial advice
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Ty Cole : price drop, buying opportunity
10baggerbamm OP Ty Cole : it depends on your time frame there was a period that gold did absolutely nothing for 12 years are you prepared to buy gold and sit on it for 12 years?
Ty Cole 10baggerbamm OP : absolutely I am and even tho I've been only buying since 2022. but I plan on sitting on my gold until I retire, I will admit I had to sell 3/4 of an oz too help pay for my brother viewing and funeral. but I'm not selling, only buying and right now I've had money but sitting and waiting for a pullback
躺平族 Ty Cole : long term investment gold should be fine .
USD slow devaluation is inevitable at this point already .
A.I bubble is slowly getting bigger too .
Geopolitics wun be going away anytime soon .
Trump tariffs is here to help too
The fundamentals remain intact . Dun be fooled by short plunges .
10baggerbamm OP 躺平族 : I don't think you understand the US dollar is intentionally being weakened the Secretary of Treasury Scott Bessent. He is one of the best currency traders in the world. the dollar was intentionally reduced from above par to being below par to increase net exports. if you think it's declining for any other reason you are mistaken.
maybe you should take a look at what China does to their currency because if anyone is getting devalued it's the pawns in that country that are getting walked all over by XI.
躺平族 10baggerbamm OP : intentionally or not doesn't matter .
trust in USD internationally already been weakened and will continue to .
nothing is meant to last ...including USD dominancy .
not saying it's gonna happen immediately it's a slow but inevitable process .
10baggerbamm OP 躺平族 : I really don't see people running to make investments into China do you buddy I don't. I see 17 trillion running to make investments in the United States I think the winners pretty much in front of your eyeballs and those who don't acknowledge it are going to be crying on their hands and knees that their investments have turned to shit because they're betting against the United States and President Trump
躺平族 10baggerbamm OP : nobody trust in rmb because it's heavily manipulate by CCP .
it's not even a comparison.
like I said USD decline is inevitable just like British pound before it .
history itself is the proof
Ty Cole : I think 20 years from now and it may happen sooner but USD will collapse
躺平族 Ty Cole : who knows? but tarriffing the world nations definitely gonna speed things up abit .
I no economy expert but even I know once trust is broken it's difficult to restore.
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