Gold is not behaving like it usually does. In what should have been a textbook safe haven moment for gold, the metal has slipped into a sharp bear market. Gold was seen logging in 10 straight days of losses. Prices have tumbled as much as 27% from their January peak of $5,594 per ounce. For a market that usually thrives on fear, gold’s sudden losing streak seems to have caught several investors off guard.
It appears that the Gold rush is coming to an end. At least this is how this market is reacting. Was the January pump priced in due to the War? Or how is it Gold performing so bad during these times?
This recent drop brought Gold to January levels or October peak levels. Might be a good time to buy or the selloff will continue?
Gold Bear Market: Down 27% in Its Longest Losing Streak Since 1920
byu/kitz99 ininvesting
Posted by kitz99
4 Comments
Yeah, I bought some last night.
Had to get a couple stacks of the new [1/4th GB](https://defythegrid.com/product/1-4-idaho-goldback/). lol
Odds are, Gold was just overpriced previously, it could still be, but, who knows?
why-is-it-going-down-cat
Buying opportunity of the century.
But maybe wait until oil peaks above 150 first. Or just DCA.
Generational bullrun until a hawk got the nomination for Fed Chair. Gold will be safer than silver but the run is over for both