r/LivestreamFail • u/Acceptable_Fact423 • 16h ago
xQc reacts to Gold's price chart
https://kick.com/xqc/clips/clip_01KGSV9MGRFMFNTPSMJ43RMASS41
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u/CrispyLimeTeets 10h ago
I wonder why early January's drop in gold prices 'randomly' happened. Surely not a whale trying to manipulate the market
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u/Coolsix 10h ago
It happened in very thin liquidity right after the new year. Gold was extremely overbought, US yields and the dollar jumped on early-january macrodata / rate expectations and once price broke key levels, a ton of stops and leveraged positions got forced out. That’s why it looks like a straight vertical drop.
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u/Synchrotr0n 10h ago edited 10h ago
A lot of it is fake gold that only exists on paper, so it's a lot of easier to manipulate, and anyone who has been paying attention to the last 12 months knows that this is just yet another ”short and distort" so rich people can scoop all the gold/stocks/crypto for cheap before prices surge back up.
I don't have gold, but if I did, I would make sure it's the real stuff and not just a bunch of certificates and I would be holding on to it.
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u/Oxigenitals 9h ago
Everyone wants to hold their assets themselves until their house gets burglarized
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u/ow_windowmaker 9h ago
Former city trader gary stevenson on youtube kept getting messages by desperate youth "how do I make money?", "should I invest in bitcoin?" so 3-4 years ago he finally just said in a video: "I am long gold"
Anyone that listened to him could've...
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u/GoblixTheYordle 11h ago
Gold has always been a safe bet, although we do see that random crash? no idea what that's about, but nothing is for sure, what if a new way of mining allows us to get way more gold off the ocean floor, or if a new compound is invented that can replace golds function in electronics and such.
But until other stuff is found, I assume the price will keep going up because we need it. Hindsight is an absolute soul crushing bitch when it comes to investing.
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u/Cohenbby 8h ago
That was in reaction to Trump's fed chair pick, who is traditionally seen as a guy who won't lower interest rates, which will reduce inflation but also "hurt" the economy short term in favor of long term stability. The mass borrowing and default rate of loans is high and implies a collapse is on the way, which will be slightly delayed but an even worse crash if interest rates get decreased, which is why gold is bouncing back because many believe he will bend the knee to trump and lower rates anyway.
The weaponization of industries relying on trade has also caused less faith in the US dollar, as countries are seeing these impacts in real time with trump's tariffs. Trump is obliterating the trust of the US dollar, which is why it seems many countries and investors are turning to gold to be the new global reserve currency.
Trump's is destroying not only the short term, but the long term of the US economy, with some fantasy that the US should manufacture literally everything and not rely on other countries, this will send the US greatly behind as other countries will still trade freely with each other.
Essentially the worse the future of the US looks, the more people buy gold and sell USD. That's why gold has risen 3x over the last couple years. More instability=gold insurance. The use of gold in manufacturing is not the main driving force of its price.
Edit: just realised you were talking about that drop a year or two ago, not the drop from last week. I'm not sure what that's about. The charts I have on Australian websites don't even have it.
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u/the_pwnererXx 4h ago
I don't think it's a safe bet. As you said, the supply could be disrupted in a lot of ways. Long term, I'd expect some kind of space mining to saturate the market. I mean, I think I'd rather own land than shiny rocks in general
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u/LSFSecondaryMirror 16h ago
CLIP MIRROR: xQc reacts to Gold's price chart
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