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Market correction? Investors flocking to gold.

Discussion in 'ASX Stock Chat' started by frugal.rock, Dec 4, 2019 at 1:32 PM.

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  1. frugal.rock

    frugal.rock

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    I have been expecting a market correction for a while now, and with over $50 billion wiped from our markets yesterday, and with seemingly a similar amount being wiped off today thus far, we may be in the midst of an emerging market correction.
    Currently all sectors ( with the exception of gold) are down today between 1 and 2% with no great signs of that easing, today anyway.
    Investors are flocking to gold today and it is the only sector up at around 0.4%.
    With what has happened yesterday and today, I don't think we have seen the last of it yet.
    Am interested in others opinions.
    There were plenty of other market correction threads, but none current?
    F.Rock
     
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  2. SirRumpole

    SirRumpole

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    Probably just a response to Trump's no deal with China, although it could last a long time if Trump says there may be no deal until after the next Pres. election.

    Could it be he's doing a bit of market manipulation ?
     
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  3. aus_trader

    aus_trader

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    An interesting start to December (usually the month that has a good finish due to Santa rally). So I hope it's a bit of market manipulation as SirR said.

    But will be watching this month quite closely as I have some exposure to the market with stocks in my spec portfolio. I have in fact held off some spec purchases that I had researched on due to the current market price action.
     
  4. Gringotts Bank

    Gringotts Bank

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    NCM seems to have bottomed. It was holding the GOLD EFT back, but now it can run.
     
  5. aus_trader

    aus_trader

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    Which gold ETF are you talking about, GDX ?
     
  6. Gringotts Bank

    Gringotts Bank

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    ETP.EFTS GOLD. $203.7
     
  7. aus_trader

    aus_trader

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    Yes, same scenario with GDX as well it has consolidated for a while and could be headed higher...
     
  8. frugal.rock

    frugal.rock

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    Could it be a bit of market manipulation from the other end of the talkers... She Gin Ping?
    Was in the former Peking for a month mid September to mid October.
    I noticed that the first 3 days of their national week long public holiday in early November saw our markets decline savagely, whilst their markets were closed. They had massive 70th Republic anniversary celebrations, which I heard were not covered much by media here in Aus.
    It is a war of economies after all!
     
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