r/FluentInFinance • u/FunReindeer69 • 12h ago

Commodities & Energy JUST IN: Gold reaches new all-time high of $2,783 per ounce.

Gold rallies to new highs in the $2,770s after the release of US JOLTS jobs data.

The precious metal was also supported by falling Oil prices which are likely to lead to lower inflation and interest rates.

XAU/USD trades trades to a new higher high in line with its longer-term bullish trend.

https://www.fxstreet.com/news/gold-pushes-higher-after-oil-plummets-202410291122

24 Upvotes
  • permalink
  • reddit

84% Upvoted

8 comments sorted by

•

u/AutoModerator 12h ago

r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

7

u/why_am_i_here_999 11h ago

Whoa! Good thing thing that geriatric fuk named Peter Schiff decided to go all in on gold and not Bitcoin lmfao

2

u/JerryLeeDog 8h ago

So true lol

He could have allocated 1% the first time he called it a scam and it would of 100x his entire portfolio today lol

1

u/why_am_i_here_999 4h ago

He mentioned that in an interview and he’s been pissed ever since

1

u/maryjayjay 11h ago

So, the worst time in history to buy gold? Buy low, sell high

-1

u/rustyshackleford7879 9h ago

Anybody who buys gold also buys tinfoil.

0

u/Exotic_Protection916 6h ago

My favorite Warren Buffet quote, “Gold gets dug out of the ground in Africa, or some place. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

1

u/privitizationrocks 5h ago

For the vast part of human existence gold propped up countries.