Gold is up .5 % right now. May look a bit different overseas because for some fucking reason the Dollar is rising. Wait ... that´s actually the playbook in a c... I mean in a situation. Right?
The real fun starts when folks realize "safe haven" assets like gold become far less safe after a parabolic run-up. Between profit-taking and panic amongst a crowd that is already heavily skewed with high anxiety and pessimism, the liquidation event in precious metals, a trade that has been heavily fueled with leveraged bets over the past month, is going to make last week's crypto sell-off look tiny in comparison. April 2013, gold crashed 15% in two days, 25% in 3 months.
This is like the 3rd tariff this year calm down everyone is down. Everything will be all fine just like two other times it happened. See how fast market recovered on Sunday.
>The cause is American credit concerns. Two regional banks, Zions Bancorp and Western Alliance Bancorp, reported bad loans and immediately saw their stock prices drop sharply. Jamie Dimon, the CEO of JPMorgan Chase, had warned earlier this week about problems in the credit markets.
Americans never learn.
You know the funs over when two smaller auto firms you've never heard of cause tens of billions of dollars in institutional and regional leveraged debt losses. Sign of the future