Gold is kind of like the broad stock market. Individual stocks can go to zero quickly, but not the overall market because of circuit breakers and other things to slow trading when bad thins happen. Gold is traded worldwide, so a country local problem only has so much effect on gold.I'm wondering...
1. The price is likely to correct itself. Can that happen “overnight” like the stock market?
2. Should I consider seeing it as an investment and hold onto it? I know it’s not a lot of money.
Thank you!
Gold has been going up a percent or two per day. When it decides to decline, I would expect the same thing -- drops of 1% to 2% day after day with maybe a plateau, and then more drop. Or it could reverse and go back up. It is not going to go from $3700 to $2000 in a few days.
The risk when selling is if the market is going down, the gold dealer may be afraid of how much the price is dropping between when he buys it from you and when he sells it. If there is downward momentum, you'll get a lower price. Better dealers have someone in the back room concurrently selling what they just bought from you. Likewise, if prices are going up, they may be afraid that the price will go down tomorrow. The buy sell spreads can be better once the price has been stable for a week or two. But the gold price may not cooperate.
Statistics: Posted by suemarkp — Mon Sep 29, 2025 4:09 pm — Replies 3 — Views 275