Home Forums Ask Sean Gold seems to be taking a huge beating

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  • Randy Hahn
    Participant
    Post count: 5

    I thought gold would be a safe haven during down trends, but gold seems to be one of the leaders going down in the bearish trend. When do you think metals will come into favor again?

    Sean Hyman
    Keymaster
    Post count: 27858

    No, I’ve never taught that. See last week’s video for more on that.

    I’ve taught that even gold/silver can go down at first due to margin call selling.

    Gold is not in a downtrend. Gold is in an uptrend, simply with volatile pullbacks along the way. That’s very different from the overall market, which is in an overall downtrend and not simply just a pullback.

    Gold is in favor. It’s why it’s not in a downtrend.

    Gold is up 16.8% from a year ago. The S&P 500 is down 16.17% from a year ago. Which would you rather own?

    Even more near-term, the S&P 500 is down 29.6% in just 19 trading sessions. Gold is down/pulled back 11.9% over that same period. Which would you rather own? And even with gold’s pullback, it’s still positive and uptrending on the year. The S&P 500 cannot say that.

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    Randy Hahn
    Participant
    Post count: 5

    Thanks for the perspective, I am still learning.

    Sean Hyman
    Moderator
    Post count: 6626

    You’re welcome, Randy. Your question will help many on here because of the answer. Glad you asked it.

    • This reply was modified 4 years ago by Sean Hyman.
    Matt M.
    Participant
    Post count: 25

    Actually if you look in more detail at this it was obvious yesterday. our gold ETF was already due to have a correction after a massive run, but then it will follow it’s normal trend up. Look at all the past market sell offs and you will see it happen, sometimes quickly and sometimes a little over a couple years. What was cool to see yesterday was the mining stocks got destroyed (GOLD as example) but then you saw it held serve and was one of the only positives in a over 12% drop in the Dow! it went to $13 and some change and then ended up around $16 and change…look at them today…massive buying back in…I suspect the institution’s took advantage of the pricing and boosted….maybe Sean can verify that on the volume counts as I haven’t had chance to truly look closely today. I still think this could be a perfect storm for metals on many fronts. Time will tell.
    Sean’s the expert so I defer but just my sense so far.

    Sean Hyman
    Keymaster
    Post count: 27858

    In the weekly videos, I drew out a scenario of its pullback, that did happen. Yes.

    In my opinion, it’s a great time to own them. Gold is the first beneficiary. But in time, silver/platinum will benefit as well.

    James Box
    Participant
    Post count: 46

    Meanwhile, both SLV and PPLT are in average down territory if you have not already.

    Sean Hyman
    Keymaster
    Post count: 27858

    Yes, agreed. Both of those metals are in averaging down zones now. Surge in dollars and economic slowdown temporarily weighing on them. That won’t last forever.

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