Gold Price Just Dropped! What Happened? (2024 Update)

[GoldCore]

 

The gold price recently experienced its most significant intraday loss in nearly two years, prompting questions about its trajectory and its status as an investment. In this video, we delve into the reasons behind the drop and whether gold remains a viable investment option.

Despite the recent pullback, we maintain our bullish outlook on gold. Pullbacks are a natural part of a long-term uptrend, and historical patterns suggest that gold may still reach new highs this year. The fundamentals supporting gold, such as inflation and geopolitical tensions, remain intact.

The current decline in gold prices can be attributed to profit-taking by futures traders and some market uncertainty. However, this should not overshadow the broader bullish trends in the gold market.

Factors such as rising bond yields, a strengthening U.S. dollar, and shifting expectations regarding Federal Reserve interest rate cuts have contributed to the recent downturn. Nonetheless, the long-term outlook for gold remains positive, especially considering escalating U.S. debt levels and continued central bank demand for gold as a reserve asset.

While short-term market fluctuations may cause concern, gold's status as a hedge against inflation and currency devaluation remains unchanged. Investors may consider utilizing strategies like dollar-cost averaging to capitalize on potential buying opportunities presented by market dips.

For more insights on why we believe the gold rally will persist, watch our related video. Additionally, learn about our GoldSaver program, which enables investors to spread out their gold purchases over time for a disciplined approach to investing in gold.

Invest in GoldSaver: https://www.goldcore.com/goldsaver

[Pete]

When I started my stacking addiction I read lots of reports, listened to podcasts, followed the "experts", looked at the charts etc. etc.
Turns out most of this was B.S. and this is especially so when people look around for reasons to explain very short term PM trends up and also down.

When gold is high the sellers advice is to buy more because it will rise in value.
When gold falls the same sellers will advise this is a great time to buy more to take advantage of a lower price.
I have never seen these people advise to sell because the metal will likely decline in value.
No-one can predict this and hindsight is wonderful for writing blogs and trying to look smart and informed.

If you search around you can always find a geo-political or fiscal event somewhere so just fit that - many will believe this.
It probably doesn't have anything to do with the fluctuations of gold and silver.
The "big greedy bankers" trading using "algorithms" make the markets fluctuate and these folks make money either way, up or down i.e. the first derivative in calculus is good for making fast bucks.
The same holds for trading Forex and stocks & shares.

That's my thinking anyhow but others may disagree.

Holding PMs is a diversification to fiat and is more likely to maintain wealth rather than grow it in terms of purchasing power, whereas fiat loses value daily due to quantitive easing and inflation.

Edited April 24 by Pete
typo of word