Gold down 5% today (Feb 29)

[Captain1]

Re: Gold down 5% today (Feb 29)

@Southie

Gold price cratered 5% to 1699$/ounce. As Gold peaked at ~1900, people were gravitating towards it for perceived safety. Today’s drop shows that perceived safety may be dangerous to one’s financial health. While Gold may have a role as part of one’s asset allocation, buying more of it simply because it moved up may not be wise (applies for any other asset).

But you see it has made slight comeback, it went down to $1650 (or even lower) then surged to $1780. In long run gold will be okay asset.