/biz/ - Business & Finance

>>2615659
who cares, my gold is meant as an heirloom for my future children
my accumulation phase ended in 2008 so I'm like all those ETH holders who bought in early

Why is it crashing wtf

>>2615694
It's so manipulated who the fuck even knows anymore. You'll have to check ZH in a few hours because they love this stuff.

When trying to shore up liquidity, PMs sometimes get dumped first as they're the easiest to offload and to calculate the value off. If someone big is in the shit and needs cash fast, bam goes gold and silver.

It would be interesting to go to 1broker and see who got fucked and who got massive gains out of this. Someone shorting gold and silver at 200x leverage just made a fucking killing.

>>2615694
Same reason crypto is crashing. Dollar must be doing well on the other hand.

Crash? What is with you plebs and this shit.

Especially gold is not a good investment property, especially if you did not bought in already 10-20 years ago. Any "economy will crash hurr durr" - guy is bullshitting you hard.

>>2615715
I made 80% gains off of this, I could've made a little more but holy shit I wish I had real money, college student FeelsBadMan. At least I went all in 100x leverage at the lucky time

>>2615740
>gold
>investment
oh /biz/

>>2615748
with that much leverage, this is 100% casino right?

>>2615756
Not 100% casino, TA helps. I wasn't expecting this big of a drop but it was a clear rising wedge continuation pattern forming and was waiting for a breakout to buy back on and I closed position right as I saw the big red candle

>>2615659
>gold

there is too much paper-gold around
it doesn't make sense anymore

>>2615843
it'll divorce from kikegold some day, I hope it comes sooner rather than later

>>2615659
>after 10 decades of webuygold adverts, and re-selling the same gold jewellery to the public at 50x the price,

>gold purchases start to decline, the gold hoarders start panicking preparing to dump
>gold starts crashing
>public is now crypto woke,
>public realises they have mined the gold total supply into the trillions
>nobody wants pre accumulated gold whale bags

Gold going down to $10/KG

>>2615896
Buy the dip :^]

>>2615896
you fool

What about silver for the longterm?

>>2615659

Are you fucking retarded? Moves like this are common it's not a crash, there has just been selling in a liquidity vacuum. You fuckin idiots need to stop all screaming "Crash!" as soon as something goes down a bit.

>>2615756

Considering that even a decimal percentage change in the wrong direction will liquidate your position, yes.

Even with 100% sure insider information about what's going to happen, you still risk getting liquidated at the wrong time because someone sold/bought and bumped the graph some fraction of a percentage.

Anyone trying to convince you that x50-200 leverage is anything more than gambling is a deluded gambler that wants to feel like a big boy broker

>>2615935
SELL SELL SELL

>>2615728
The fed raised interest rates on the false assumption that the economy is strong. That's gonna send us into the biggest economic recession ever and money will pour back into PM and cryptos.

>>2615937
>Anyone trying to convince you that x50-200 leverage is anything more than gambling is a deluded gambler that wants to feel like a big boy broker

So
much
this

>>2615935
Fuck off. It's nice to larp about something other than shitcoins for once.

Leave us be in our single gold thread

>>2615659

Good, wanted to buy some in the near future.
It also not an investment, its a hedge you geniuses.

It was likely due to the US dollar index spiking up.

gold dropped 15 dollars. silver dropped 20 cents. wow everybody sell before it hits 0

Good for you OP. I was net long on gold/silver as daily MACD seemed to be flattening out, I saw the 30min bollinger bands narrowing prior to the breakout, but didn't do anything, really didn't know which way it'd go.