gold selloff

[nomad999]

Does anyone have any clues why gold keep having those big red candles over -5% ? seems a bit unusual for gold to drop like that ... but I could be wrong I am not an expert.
I thought the current economic context was positive for gold, is it just the biden "blue wave" effect that tend to favor equities ?

 

[LoveMyLife]

There are a few countries trying to maniputale a gold price. US goverment invests huge amount of money to hold price of gold under 2K / ounce. Just once price raised over 2K and that panique in US financial institutions based on calls from FED office, was insane. They have to hold price of gold under 2000 USD per troy ounce. This is so called psychological value. In case of increase over 2K for a longer time, price will drop up to 5K very fast. US goverment spent almost all gold reserves which they shall store for other countries and they did it without their knowledge and consent. This countries can ask to have gold sent back one day. And US goverment will have to buy all that gold for a standard market price. Party with FIAT currencies in coming to the end. And one day lights will be switched off and cards will be distributed again. Based on ownership of gold and maybe few other acceptable assets. And you can imagine what will happen in the USA if foreign goverments will start to ask for a gold repatriation. In reality, they will ask for repatriation of gold which does not exist any more. After denial from USA, they will ask for damage repayment in money. But FIAT money will not have a value of paper on which it is printed. So foreign goverments will ask to move other US assets. This is a reason why US goverment can not allow to increase price of gold over 2K per Oz for any longer time.