Top Stories This Week: Gold Price Takes a Hit — What Happened and What's Next | Summary and Q&A

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August 14, 2021
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Investing News
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Top Stories This Week: Gold Price Takes a Hit — What Happened and What's Next

TL;DR

Gold prices experience a significant drop due to an improved economy, but expert Christopher Muellen remains bullish in the long term. Meanwhile, the gaming industry continues to thrive with increased interest and profitability.

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Questions & Answers

Q: What factors contributed to the drop in gold prices?

The drop in gold prices was influenced by an improved US economy and speculations of tapering measures by the US Federal Reserve, suggesting a decrease in stimulus measures.

Q: How does Christopher Muellen view the recent sell-off in gold?

Christopher Muellen sees the drop in gold prices as a potential bottom, with a strong support zone. He remains bullish on gold in the long term, expecting it to reach $1900 and possibly $2000 in the future.

Q: How do Twitter followers feel about the current gold price situation?

According to the ongoing poll at the time of recording, only a small percentage of respondents believed that the bottom is not in for gold. Most respondents either stated it's too soon to tell or believe that the bottom has already occurred.

Q: How has the gaming market performed during the COVID-19 pandemic?

The gaming market experienced a significant boost in interest and profitability during the COVID-19 lockdowns, as people sought entertainment at home. Major companies like Nintendo and Microsoft have reported increased revenue and profits in the gaming sector.

Summary & Key Takeaways

  • Gold prices have fallen to around $1750 per ounce from $1830 due to an improved US economy and the potential tapering of measures by the US Federal Reserve.

  • Christopher Muellen believes this drop in price presents a strong support zone for gold and expects it to potentially reach $1900 and even $2000 in the future.

  • The gaming market experienced a boost during the COVID-19 lockdowns and continues to show promise as major companies like Nintendo and Microsoft report increased profitability.

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