Gold is speculated on, but it is a real, tangible asset with both industrial and historical use. Gold's price (and silver moreso) has been artificially suppressed which is why you saw this price soar, but the price can't be allowed to actually catch up to the relative rarity of the material or it would harm the entire financial system. Additionally, price increases correspond to dollar weakness, as one would expect. Bitcoin dumped like 30+% because less than .1% of the supply was sold. These situations are not remotely comparable in the realm of speculation.
It depends on your goals. Short term investing? That's a big risk. If you're going to buy and hold as a hedge (which I've been doing since $20 for silver and around $3k for gold), then yes. There is too much volatility right now and obvious market manipulation for someone like me to know either way if you're looking for short term returns. The fundamentals show that silver and gold should be worth way more, but market makers are able to keep fundamentals divorced from price action for a loooong time
Technically it was a crash. In fact, historically when that large of a move happens in one day it's over for the PM bull market. But given how early things are and the major de-dollarisation macro we're in, that seems unlikely.
Today it looks like a v-shaped recovery, but I don't want to get my hopes up too soon.
20% loss after 200% gain
omg crash
I equally can not comprehend this 'crash'. For Crypto-bros, this is called Tuesday.
The difference between sound money and a speculative asset
But even gold is now speculative, so what’s left that qualifies as “sound money”?
Gold is speculated on, but it is a real, tangible asset with both industrial and historical use. Gold's price (and silver moreso) has been artificially suppressed which is why you saw this price soar, but the price can't be allowed to actually catch up to the relative rarity of the material or it would harm the entire financial system. Additionally, price increases correspond to dollar weakness, as one would expect. Bitcoin dumped like 30+% because less than .1% of the supply was sold. These situations are not remotely comparable in the realm of speculation.
Fair points… would you buy more of either metal at these current prices?
It depends on your goals. Short term investing? That's a big risk. If you're going to buy and hold as a hedge (which I've been doing since $20 for silver and around $3k for gold), then yes. There is too much volatility right now and obvious market manipulation for someone like me to know either way if you're looking for short term returns. The fundamentals show that silver and gold should be worth way more, but market makers are able to keep fundamentals divorced from price action for a loooong time
Technically it was a crash. In fact, historically when that large of a move happens in one day it's over for the PM bull market. But given how early things are and the major de-dollarisation macro we're in, that seems unlikely.
Today it looks like a v-shaped recovery, but I don't want to get my hopes up too soon.
OP doesn't understand markets. At all.