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The largest gold ETF recently has been aggressively reducing positions
Cumulatively liquidating 23.47 tons from March 1-20, approximately 754,600 ounces
There are many reasons for the recent gold decline
Strong dollar, profit-taking at high levels, etc.
I also asked around about roughly how low it could go
Each AI provided different data, all first analyzing gold mining costs
Doubao said global gold mining costs are around 800 RMB/gram
ChatGPT said approximately 280-350 RMB/gram
So the question is, how low will gold ultimately drop in this round?
I've had my eye on several pieces of jewelry and really want to buy them
But I'm worried gold will drop 🤣, it's psychologically uncomfortable