Why is gold down 2.6% today? I expected it would be up again like it was yesterday.
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Dear PF,
I was going to come back in and say I have no clue.
Gold is elusive to me.
I am not a believer.
I thought it might be a swing trade. Possible hedge against the dollar, it does not look that way.
There’s plenty of gold in the center of the earth. We’ll find out soon.
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Dollar is up so gold is down. Only rationale I can think of.
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That’s as good a reason as any I suppose. I don’t understand the move in either in the directions they moved.
Trump opened Fort Knox and found out there wasn’t any gold there. Obama alread took it and ran.
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Then it should be WAY up.
Part of the recent increase in the price of gold has been caused by buyers front-running the tariffs by buying in London and bringing it to the US.
This carry trade is now over.
Jeff
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