I can't understand why people are shocked gold is going down, especially during a war on energy - fundamentally look at all those that explain how these financial markets work, in specific; DXY, crude oil, bonds and treasuries, imports/exports, etc.
When there's a war on energy, oil goes up (as evident) and when oil goes up imports and exports are affected around the world. The basic COGS for every product increases. In other words, inflation rises. What do governments do to fight inflation? They increase interest rates, so where does money flood from? Stocks, gold, etc. into FD's and savings accounts in general due to these interest rates. And so whilst not immediately evident, I still think the big boys are pricing it all in now.
My personal opinion is, it was all a build up to trap bulls from the beginning and this was the catalyst for it. Also, there are probably a multitude of reasons that support the collapse of gold that I haven't touched on (like profit taking), but was just trying to convey my point of view.
3
people keep a delusion hope about war, "war could bring gold to sky", but no, market is a different thing from those, and i love that hope. I just fill my pocket with money
. GOLD_H4. I won't buy gold until price gets to 4.365. This will be my trade of the week, from the low I'm holding all the way into the pivot.
