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Comment by MetricT | Hacker News Reader

Gold has merely mean-reverted, not "crashed". Some profit-taking since gold got a bit ahead of itself.

If gold continues growing at the same rate as the last 6 months, it will take gold all of a month and a half to get back to where it was.

https://i.imgur.com/bRAy1FB.png

Now, gold might not continue growing, but D.C. hasn't fixed its problems that are causing gold to rise, so I do have a degree of confidence that it will recover quickly.

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Everyone is focused on commodities and ignoring basically the entire global market got shook today. Bonds, indices, commodities, and securities all got tanked. Nothing in my portfolio was in the green today, and I generally invest conservatively since it’s my (maybe, hopefully, someday) house down payment at stake.

That said, I agree with you that this feels like a bunch of prominent exits to convert paper profits into actual ones. The underlying problems remain and will become increasingly exacerbated as the year drags on.

I figure I’ll recover losses by this time next year if I just refrain from panic selling.

The market went down less than half a percent today? That’s not a great day but certainly not losses that are even notable

Kids these days have no clue what a real bear market looks like. They were barely in grade school during the 2008 crash.

Kind of a good, non-political, encapsulation of one thing that's majorly wrong with the internet nowadays. Somebody that has so little clue what they're talking about is coming here, posting messages, and having as much voice to manipulate the minds of others as, for example, some tenured economics professor does. No way to tell the two types of people apart, the posts looks the same, know way to know what experience/knowledge/credentials the poster has. Now imagine all the people posting their thoughts in regards to something like the latest middle east conflict - what percentage of those posters know any better what they're talking about than this guy does about economics?

I mean, you can always evaluate the arguments instead of going by authority. It is not like famous economists or professors are always right.

But if we take statements at face value and do not think critically… Also there are bad actors trying to push a direction. One cannot assume one account equals one person.

I'm not sure a 6 month window with a squished Y axis to make the graph a perfect 45 degree angle line means much. How it compares to currencies and other assets would be more interesting.

Same with silver: It jus went back to its 20SMMA

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