Why the big sell off in gold and silver today ?
I would make the argument that the strength in the US $ is part of the problem.
JMHO
cutworm,
That makes complete sense to me...........even though there is plenty of non-sense going on that's affecting the markets right now.
Looking back at the last week, it almost seems hard to believe that the huge gap lower on Sunday Night was less than a week ago. So much happened that it seems like it was more like 2 weeks worth of trading, not just 1 week.
Is that how it seemed to you?
Talked to our financial advisor
He said in normal times gold should go up
But during times when you can not get out of your position and margin call is becoming larger, with an illiquid market for bonds especially, and a lot of talk about insurance stuff that is not working in todays narket
People want cash to sit on the side lines
Cash to pay margin
Any number of reasons but as of now cash is king in the markets
That means gold will be sold, even if a winning position
When gold falters then you sell, no matter what, as a bird in the hand [cash] so to speak
That means both long and short positions will sell to some extent and selling wins in this market
I asked about buying Barrick gold stk and he did not think now was the time.
He said to hang onto what little cash we have.