Hi, Selling 33% of your gold makes sense given several contrarian indicators: investor exuberance with high price targets, unusual media coverage on gold (like The Economist’s recent focus), and potential Fed policy shifts post-election. Rising rates and strong year-to-date gains add further weight to the decision. While gold’s long-term fundamentals remain solid due to global demand from countries like China and Russia, rebalancing now could be a prudent tactical move.
Gold does indeed look overbought at the moment, but overall, the phase of the economic cycle we're in suggests a tendency for interest rates, and thus borrowing costs, to gradually decline. In this phase, gold usually remains steady, so I'm holding onto my long positions in HFM.
Gold price from 1970. Scale RHS is percentage move. Copper price since 1970 Copper more volatile. Scale RHS is percentage move.
Blockchain technology and the increasing complexity of networks, along with rising transaction fees, have sparked considerable debate. Critics argue that Bitcoin is not backed by any tangible asset, questioning its price validity. However, I see parallels between Bitcoin and gold; both are often viewed as stores of value, yet gold's price justification can be equally elusive. If we're discussing intrinsic value, there seems to be no clear reason why gold's price should be significantly higher either, especially when considering its historical volatility. Ultimately, both Bitcoin and gold face scrutiny regarding their valuation, but their appeal as alternatives to traditional currency systems is growing.
Exactly, that’s the plan: first, we’ll dazzle everyone with AI and cryptocurrencies, then, using all that accumulated computational power, take over the financial markets—and from there, as far as our servers can reach. All that’s left is to make you believe it’s just the natural course of progress
Gold tanking, now down $200 since my OP. I wish I sold it all, non-zero chance this was the last exit before BTC eats Golds launch. But I guess I will make on my crypto bag if that happens, so im hedged
Lesson: NEVER underestimate the economist magazine ability to be wrong, a subscription is worth every penny, these people are the amazing at being contrarian indicators