Gold and other metals are all dropping today -- anyone know what triggered it ? nt

[eppur_se_muova]

[Beakybird]

1. All the people grinding their teeth need fillings.

It should be going up.

[MLAA]

2. Good one!

[progree]

24. I red an article- dentists seeing a big increase in cracked teeth

due to people grinding their teeth more due to stress.

[Binkie The Clown]

3. Over my last 70+ years of casually watching markets I've discovered that...

...sometimes they go up and sometimes they go down.

Analysts will use words like "after" and "when" to pretend they understand why, but saying something like "The Dow Jones dropped today after Boeing announced ...." actually makes as much sense as saying "Stocks were higher today after Jennifer Lopez got a speeding ticket in L.A."

"After" hints at understanding that does not exist in reality. The truth is, nobody really understands why, but sometimes market go up and sometimes markets go down.

[PirateRo]

5. That's exactly right

They don’t really know. They just pick the biggest story and go with it.

If you watch it for any length of time, you learn to take those before/after stories with a bag of salt.

[eppur_se_muova]

7. 'Mr. Morgan ! Can you predict what the market will do ?'

"Yes. It will fluctuate."

Already familiar with the concept, thanks.

[empedocles]

15. Of course you are right, hour to hour. However, the 1/3 losses around March 2020,

did tell some things. Some had predicted some things - though advance timing is tricky for most or all.

[empedocles]

4. Gold is largely about deflation fears. More signficant is oil dropping a larger 5%,

which is about the fear of general economic slowdown.

[Thomas Hurt]

6. The stock market is just, when you get down to it...the same as betting on the ponies.

[Laelth]

8. I can't say.

What I will say is that the markets are neurotic. They tend to over-react to stimuli, and what bothers the markets most is uncertainty. Uncertainty leads to panic, and panic leads to irrational selling. Notice that you rarely (if ever) see panic buying, but selling is often driven by uncertainty that creates panic.

RBG’s passing has created uncertainty. That’s the only recent event (of which I am aware) that might create some uncertainty and some panic-selling.



-Laelth

[SWBTATTReg]

9. Profit taking I'm guessing. It's had a good run, fundamentals of owning metals is ...

still pretty well the same, but the hysteria surrounding trump is abating, and the markets have seemingly baked in Biden as the winner in the upcoming Nov. 2020 elections (normality returns! markets get back to basics)...

[eppur_se_muova]

11. That was what I was worrying about. I was kind of hoping 45 could at least drive it up a little ...

... further so I could at last get something beneficial out of this Godforsaken maladministration.

(Inherited a couple of coins)

[SWBTATTReg]

13. Well, with Biden in office, things will get back to 'normal' more faster than what we're going ...

though now w/ trump. trump is not doing the economy or anyone else for that matter a favor. If anything, trump has wrecked the economy with his stupid actions, ranting and raving, and personally, I think the markets are on pause until the POS is thrown out of office finally. Can't have a functioning, normal market when you have an idiot in the WH writing executive actions right and left, thinking that they'll save the world (they won't and if anything, are confusing the hell out of everybody).

I know that everyone on DU are sick and tired of the moron in the WH, but the markets too, and the rest of the world, is sick and tired of the moron in the WH. Why do you think that the moron is having fewer and fewer rallies? Mainly because they're finding fewer and fewer places to find the level of support the moron craves. Not everyone is literally dying to die from the CV.

I hope the moron catches the CV and not just a milder form of the CV. I want him to suffer. Thing is, he still has thousands and thousands of deaths on his bloody hands.

[eppur_se_muova]

14. I still can't believe he hasn't caught it. Reminds me of the old joke about lawyers ...

Q: Why don't sharks attack lawyers ?

A: Professional courtesy.

Maybe 45 is getting the same sort of consideration -- you know, one agent of disaster helping another.

[marble falls]

10. Democrats being projected to take the WH, the Senate and several state legislatures ...

Less fear, less volatility on metals futures.

[safeinOhio]

12. I have been seeing Ron Paul ads on tv.

When ever that happens, I figure gold prices are headed South and he is trying to unload.

[empedocles]

17. Paul an indicator like fox news ads to buy gold. Do the opposite.

[Crowman2009]

16. All the libertarian dickheads who are behind on their rent or mortgage are selling.

Just sayin'!

[Blue Owl]

18. The death of Tony Tenpenny

https://www.democraticunderground.com/100214110131

n/t

[Warpy]

19. Stocks are dropping rapidly, too

It looks like most people are ignoring the FinCEN story but Wall Street just might have noticed it.

Crooks are scrambling for ready cash.

[mahatmakanejeeves]

20. "I hate to see it," says WH econ adviser Larry Kudlow of today's drop on Wall Street, 900-points ..

“I hate to see it,” says WH econ adviser Larry Kudlow of today’s drop on Wall Street, 900-points as he spoke. “These things happen,” but says, “corrections come and go.” He also thinks there’s “great concern” that Britain might shut down in response to Coronavirus.

Link to tweet

[beachbumbob]

21. holders of silver and gold most likely cashing out their profits (huge)

[beachbumbob]

22. also with big market drops, investors unload commodities to cover margin calls

[elleng]

23. Stocks Tumble as Surge in Virus Cases Imperils Recovery.

S&P 500
-2.58%
Dow
-3.29%
Nasdaq
-2.08%

[sandensea]

25. I suspect markets are finally accepting that Cheeto will not be re-elected

What might that have to do with gold prices?

Orange Amin, as you know, is major gold bug - and many of his top-tier appointments have been as well.

The most infamous is probably Fed Board appointee Judy Shelton - whose family has large gold hoards, and who's an adamant supporter of going back to the Gold Standard.

It would, of course, trigger a depression - but who cares, if you've got the gold.

A Biden victory, then, would scuttle any such policy gold rush - and it seems to me that markets are finally coming to terms with the fact that Cheeto is a lame duck.