AI was predicting 3% down for gold in a week a few days ago while GC was going up. I believe AI started to be right from today. Let's see. 3% down is about $70. It should go to $2670 by next Tuesday.
Indeed, it is alarming. When the gold price is at ATH, it is extremely bad omen. It could mean the end of the US, and China's rise to the supreme power. Or it could mean the world is going to end because of Nuclear war. Only humans are able to crack the earth into tiny pieces. And the earth will return to its original form which is dust or gas. Then there will be one planet less in our solar system.
You just seem upset all the time about something. Might be because you don't understand markets. Inflation already under 2% in Canada. Commodities are priced based on supply and demand and some are getting scarce on the supply side unless higher cost sources are mined.
Gold is also a news driven asset and can changes directions immediately with any news in my opinion that's why trading currencies over gold can be more beneficial than gold, yet many traders make good bets on gold.
In these times of geopolitical tension, I don’t see anything special about the rise in gold prices. After all, ongoing conflicts or instability in certain regions of the world always prompt investors to seek safe assets. Tensions in the Middle East, war between Russia and Ukraine, or concerns about trade relations always push large investors to buy gold as the main safe-haven asset.
strange .... Gold goes up > 1% during today's Asian session. This is not normal. Gold seldom moves that much during the Asian session. The latest news from cnbc is : 'Gold falls !!!' HAHAHAHA!!!
It's demand that pushes up Gold and Silver priced in U.S. dollars. It's a sign that people think that the dollar (not prices) is going to suffer serious deflation in buying power. But remember that the understanding of fiat money among Traders in particular, and Wall Street types in general, is spectacularly weak. The reasoning behind greater demand for Silver and Gold does not have to make sense for you to make money from gold and silver price appreciation. The only thing required is to buy low and sell high. I have often wondered why the Fed targets 2% inflation rather than 0%. Others have remarked, but not the Fed, so far as I am aware, that it is because Fed regulation is imperfect and they don't want to risk deflation. This never made sense to me because a little deflation is quite harmless, just like a little inflation is. But serious deflation can, of course, not be tolerated. It would lead to disaster, as we know from the Great Depression. For years in the late 19th and early 20th century the dollar oscillated between very mild deflation and mild inflation. And that seemed to be OK. I think, however, the reason the Fed nowadays uses 2% as the target instead of say 0%, is that 2% represents mild inflation and, at the same time, provides a built-in, mild economic stimulus. If 2% could be maintained, real rates on fixed interest loans would always be 2% less than nominal rates, because dollars paid back to lenders would always have less buying power than the dollars loaned. Thus a 2% inflation target in an economy that runs on credit provides a constant economic stimulus. If someone knows of a written explanation coming from the Fed for choosing 2% rather than 0% , or some other percentage, as a target, please let me know.