i mean what economical catalyst
most appreciative
Big/smart money?
there was not a big sharpe spike but the fall was with small volumes
except for yesterday when some big smart money took advantage of the high price and dropped a large volume
Maybe there selling off because they have been long for some time now and want their profit, end of month.?
it could be
period of time can be a catalyst too
read this from a post other member
and that could be the economical reason
Dollar gains on trade deficit narrowing
US stock market pulled back on Wednesday as bond yields continued falling while demand for safer government debt remained strong. The S&P 500 slid 0.5% to 2805.37. The Dow Jones industrial average slipped 0.1% to 25625.59. Nasdaq composite index fell 0.6% to 7643.38. The dollar strengthening persisted as US trade deficit narrowed in January to a five-month low of $51.1 billion after $59.9 billion in December. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.2% to 96.96 but is lower currently. Futures on US stock indexes point to lower openings today.
I think I can explain better why gold dropped. The main reason why gold has dropped is due to the corona virus. The corona virus is threatening to shut down the whole world and pople have realised that gold is not the priority now. Health is more than gold. I think, this is why there is a reduction in gold market.
Very easy
Markets do the opposite of what most suggest
According to the research, gold has lost the market du to the corruption and the bandidity that has been going on with gold processing. People have realised that the gold nowadays is nolonger pure. They do a profit making business thus they add minerals that are closely related to gold so that they may increase the quantity.
If you ask me, what’s holding the gold back is the fall in stocks which seemingly was what investors did to raise cash in return of assets. Another reason I’ve noticed is that futures people had long liquidation and they eventually exited from bullish position. I would credit pandemic for the dip in gold.
I believe that the corona virus is the main reason why gold extremely dropped down and showed a bearish trend for an uncertain amount of time. When the corona began investors sold lots of assets mostly because of the fear to lose everything and then transferred big sums of money to gold, hence we saw a sharp drop, you know. I wonder why had gold remained the most stable asset for such a long time in the past and just one crisis handled to influence it. Today as far as I concerned gold is on its way back to the indicators which it had before corona, at least I hope on it. Anyway, gold remains a stable currency.