Gold is absolutely tanking today

[Recursion]

https://goldprice.org/spot-gold.html

$1586, down from $1640.

[The Velveteen Ocelot]

1. I would think gold would go up, as it often does when the stock market tanks.

[DFW]

3. Gold is still up in the clouds. Just down to cloud 7 from cloud 9

It was barely over $1500 at the beginning of the year, and even that was considered lofty territory at the time.

It went up almost $50 in a day last week. Going back down $50 in a day is to be expected when the steam runs out.

[Recursion]

4. Oil, too

It's like nobody wants to own anything today

[Frances]

2. I don't get it either

[cbdo2007]

5. People must just be going to cash...

as everyone knows gold doesn't really do you any good when you need to pay your bills or buy a loaf of bread.

[Wounded Bear]

6. It's like everything's price is inflated...

the entire economy is in bubble mode. Nobody is "investing" any more, they are placing bets.

[kurtcagle]

7. Margin calls

Right now people are selling everything they have to meet margin calls. Gold is tanking because there are few buyers able to buy at fire sale prices. Once things stabilize, expect that to change, but $4 trillion has just evaporated in the market. That's roughly 30% of total US GDP per year.

[Recursion]

8. End of the quarter is today -- hadn't thought of that

Monday's going to be ugly, in that case

[Celerity]

10. no, the end of Q1 is Tuesday, March 31st nt

[Recursion]

11. Gah, thanks. Off by a month

Federal Q2 ends with March, right

[earthside]

9. Yes, this ...

My Tocqueville Gold Fund is down this morning ... but only .16 percent.

[uponit7771]

13. +1,

[uponit7771]

14. +1

[SWBTATTReg]

16. I think you nailed the rationale w/ 'margin calls'...must be an unpleasant surprise to all of ...

the stock market traders when the markets have been going up, up, and up for what seems like forever. So they gambled not only on just their money but w/ margin money too (and probably for a while did alright), until the apple cart got flipped over. Now, since the markets have taken quite a hit over the last week or so, the margin calls must be enormous and before long, the margin calls will force more and more stock to be sold, to cover the margin calls, kind of an accelerating trend. I didn't realize that the amount was up to $4 trillion dollars. Wow.

A bubble stock market, perhaps? Shocks like this will translate into other sectors of the economy, e.g., the real estate market? Commercial real estate has already been hammered, but housing, hmmmm...perhaps anyone in line to buy a home or house might want to wait to see how things boil down/out to?, might grab a % reduction in the loan rate should the feds try to stimulate the economy, etc.

[Baked Potato]

17. I don't know anything about stocks,

But that $4 T has got to hurt someone, somewhere.

[Aristus]

12. What? The survivalists aren't all out buying their pretty rock that they can't eat if society

collapses?

[Chainfire]

18. Of course not....

The survivalist know that this Trumpvirus is a Democrat hoax.

[beachbumbob]

15. when commodities are unloaded, I find its in response to cover market margin calls

I see this is the case with both gold and silver today