What is going on with Gold? \ stacker news ~Stacker

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What is going on with Gold?

682 sats \ 31 comments \ @grayruby 22h Stacker_Stocks

Gold hasn't been this popular since piracy (not the online type) was in fashion.

So what is going on?

Capital flight from US26.3%

Central Banks buying28.9%

Price Suppression broken10.5%

Boomers don't know how to buy bitcoin34.2%

38 votes \ 2h left

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195 sats \ 4 replies \ @SimpleStacker 22h

All of the above?

40 sats \ 3 replies \ @grayruby OP 22h

Damn can't add another option in edit for polls. Too bad. Should have had an all of the above because you are right, it is likely a bit of each.

50 sats \ 1 reply \ @SimpleStacker 22h

The only one I'm not sure of is "price suppression broken"

10 sats \ 0 replies \ @grayruby OP 21h

Could be a short squeeze in paper gold. If price has been manipulated via paper futures as gold bugs have suggested, which makes some sense considering how physical vs paper spreads have blown out the past couple years, it could simply be short covering and that spread closing.

0 sats \ 0 replies \ @Akg10s3 18h

I agree 👌

20 sats \ 8 replies \ @kepford 18h

No clue

40 sats \ 7 replies \ @kepford 18h

I mean... let me make something up that sounds smart...

80 sats \ 6 replies \ @grayruby OP 17h

Oh so pretend you are an economist? @Undisciplined

86 sats \ 0 replies \ @Undisciplined 17h

We are masters of the just-so story.

0 sats \ 3 replies \ @kepford 17h

I mean... I like NOT pretending because if I'm wrong I can always say... well what do I know. I'm not saying I'm any kind of authority figure. I'm not even an economist!

40 sats \ 2 replies \ @kepford 17h

Of course economists are one of those professions where I believe it is a requirement to not care if you are wrong. So... like weathermen.

37 sats \ 1 reply \ @grayruby OP 17h

I think @Undisciplined would make a good radio weatherman.

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0 sats \ 0 replies \ @kepford 17h

lol

67 sats \ 1 reply \ @BlokchainB 20h

Trust is breaking down

155 sats \ 0 replies \ @grayruby OP 20h

That's not good for fiat system. It is completely propped up by trust.

40 sats \ 2 replies \ @siggy47 18h

If I still had those nice shiny Maple Leafs I would trade them for some bitcoin.

42 sats \ 1 reply \ @grayruby OP 18h

I have been thinking about selling some of my gold and silver. I might wait a bit until the price surge cools off though. I have never sold any but selling some and buying Bitcoin with the proceeds seems pretty enticing right now.

0 sats \ 0 replies \ @zapsammy 12h

what is wrong with u?

25 sats \ 3 replies \ @SpaceHodler 19h

Meanwhile in China:

25 sats \ 1 reply \ @grayruby OP 18h

That's where women go to find out all the the lovely gold their sweethearts have been giving them as gifts all these years is fake. Haha.

20 sats \ 0 replies \ @SimpleStacker 18h

I smell a new tik tok trend

7 sats \ 0 replies \ @nitter 19h bot

https://xcancel.com/BRICSinfo/status/1914341259361079363

50 sats \ 1 reply \ @justin_shocknet 20h

Went with price suppression broken, which is upstream of the capital flight / central bank options, because the movement of physical would imply a margin call of sorts on "paper gold"

Ironically, the movement of physical in tandem with the price, illustrates the case for Bitcoin... you can actually know what's in your vault and not spend a fortune to move/secure it.

According to "experts" on the movement of physical, most of it is coming INTO the US though, not out... but China has been hoarding too.

17 sats \ 0 replies \ @grayruby OP 18h

Good analysis. I think it has a lot to do with the paper price coming in line with the physical. There has been quite a gap for a few years.

20 sats \ 1 reply \ @ek 18h

@Fabs is buying all the gold

0 sats \ 0 replies \ @grayruby OP 18h

Is that his new strategy to become Suave?

5 sats \ 0 replies \ @Solomonsatoshi 18h

USD/USTs no longer seen as a reliable and secure safe haven. Rule of law in USA, and the US government itself, are no longer seen as reliable. Chinese mBridge trade payments protocol being joined by Saudis spells the beginning of the end of the mighty Petrodollar hegemony.

0 sats \ 0 replies \ @Nzowashua 8h

BITCOIN IS MORE VALUABLE THAN GOLD. NOW BITCOIN BULLISH LIKE CREIZY GAME

0 sats \ 0 replies \ @OT 14h

I think it just has a much bigger market cap so countries are aping in and not many want to sell.

With Bitcoin if would send the price sky rocketing but that's just a matter of time anyway.

0 sats \ 0 replies \ @kurszusz 18h

I think it's just a simple deviation...which will be followed by a nice fall ;)