{"id":524386,"date":"2026-03-09T10:55:10","date_gmt":"2026-03-09T10:55:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/524386\/"},"modified":"2026-03-09T10:55:10","modified_gmt":"2026-03-09T10:55:10","slug":"gold-extends-drop-to-100-as-the-asia-bid-fails-to-emerge","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/524386\/","title":{"rendered":"Gold extends drop to $100 as the Asia bid fails to emerge"},"content":{"rendered":"<p data-v-4026719d=\"\">Gold opened higher on the day and touched $5196 in a quick spike to start the day.<\/p>\n<p data-v-4026719d=\"\">It barely lasted a minute though and it&#8217;s been straight lower since then with gold now down $102 to $5066, about a 2% decline. Silver is 3% lower.<\/p>\n<p data-v-4026719d=\"\">Last week, gold was lower overall but it rallied in Asian trading hours each day.<\/p>\n<p>Gold in Asian hours last week<\/p>\n<p data-v-4026719d=\"\">That spell appears to be broken as it&#8217;s turned into something of a &#8216;sell everything&#8217; mode as oil prices spike once again. WTI is up $14.75 to $107.41 on the day.<\/p>\n<p data-v-4026719d=\"\">Ultimately, the disarray in global markets and a potential recession due to high oil prices is good for gold. A spike in inflation would also add to the allure of gold.<\/p>\n<p data-v-4026719d=\"\">But in the short-term, the turmoil in markets is the kind of thing that leads to traders paring risk and gold is a crowded and leveraged trade. It&#8217;s not a pretty picture at the moment in anything as US equity futures fall another 1.6% and Japanese futures fall 3%.<\/p>\n<p data-v-4026719d=\"\">As for gold, here is a notable saying:<\/p>\n<p>\u201cWhen people are worried about the future, they buy gold. When people are worried about the present, they sell gold.\u201d<\/p>\n<p data-v-4026719d=\"\">It was the same thing at the peak of covid, when gold briefly crashed before embarking on the record run that continues.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold opened higher on the day and touched $5196 in a quick spike to start the day. It&hellip;\n","protected":false},"author":2,"featured_media":524387,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":{"0":"post-524386","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-ca","10":"tag-canada"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/524386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=524386"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/524386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/524387"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=524386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=524386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=524386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}