Gold Drops Below $3,900 After A Historic October

8h ago•

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bearish:

The scene illustrates the fall of gold to $3,900, marking its worst October since 2008. On the left, a panicked investor holds his head in front of the collapse of the precious metal. At the center, imposing golden bars are pierced by a gigantic downward red arrow, symbolizing selling pressure. In the background, a calendar adorned with an autumn leaf recalls the month of October. The figure 2008, inscribed on a cracked stone, evokes the last comparable period. On the right, bearish charts accentuate financial tensions. Overall, it translates a historical correction, despite gold's traditional safe-haven status.

Gold closed October around 3875 dollars an ounce after its worst October since the 2008 financial crisis. This drop does not necessarily mean that the metal has lost its safe-haven status: it mainly shows that long-term protection can sharply decline when investors seek immediate liquidity.

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8h ago•

Cointribune

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