It's because it's priced in dollars. The dollar is strengthening which is why commodities are going down in value also. The Euro and Yen are going to shit. The USD is looked at as "safe" as far as currency goes relative to other currencies. Rising interest rates also make the the dollar attractive to hedge against uncertainty in the stock markets. Risk a huge loss vs knowing you can get ~3% interest by holding a bond.
You've got to realize most people have ZERO clue about economics yet alone monetary theory. It's not what we know, it's what THEY believe. Know how to play the game. Gold/silver will most likely continue down so keep buying in lots to cost average but I wouldn't YOLO just yet. Stack on apes.
it's because gold is tied to the dollar?
Not pegged anymore
but
being able to gold with fewer dollars makes the dollar look good.
And makes gold look bad for those not realizing it's on sale.
Yes
Big money wants it -- but at a bargain.
It's because it's priced in dollars. The dollar is strengthening which is why commodities are going down in value also. The Euro and Yen are going to shit. The USD is looked at as "safe" as far as currency goes relative to other currencies. Rising interest rates also make the the dollar attractive to hedge against uncertainty in the stock markets. Risk a huge loss vs knowing you can get ~3% interest by holding a bond.
You've got to realize most people have ZERO clue about economics yet alone monetary theory. It's not what we know, it's what THEY believe. Know how to play the game. Gold/silver will most likely continue down so keep buying in lots to cost average but I wouldn't YOLO just yet. Stack on apes.