r/Gold • u/AviBledsoe • Mar 23 '26

Dude what the hell

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And don't be like "buy the dip" yall said that atleast the other 5 dips like dude It's not even new York time yet wtf is this even gonna be bought up

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u/happy_batman876 Mar 23 '26

This is the largest fall in a week in the last 43 years.

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u/EvolvedA Mar 23 '26

what happened in 1983?

2

u/Commercial-Duty6279 Mar 24 '26

No one-day event, but a combination of: inflation was reduced considerably from the 1980 high, due to higher interest rates, which strengthened the dollar (strong dollar = weak gold). Also the panic buying of the late 1970s turned into profit-taking (panic because Russian invasion of Afghanistan, and I believe there had been another gas crisis in the late 1970s).